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To allow for this yearly allocation, the current policy needs to be amended. <br /> <br />The amended policy for the allocation of excess/deficient General Fund Revenues would <br />be allocated to the following City funds as such: <br /> <br /> Park Trust Fund - 10% of excess/deficit <br /> Equipment Replacement Fund - 10% of excess/deficit <br /> Public Facilities Construction Fund - 40% of excess/deficit <br /> Public Improvement Revolving Fund - 40% of excess/deficit <br /> <br />This policy would go into effect for the period ending December 31, 2004. <br />Recommendation: <br /> <br />Staff recommends that theFinancial P.olicy for the Purpose of the Allocation of <br />Excess/Deficient General Fund Revenues be amended to reflect the foil_owing allocation: <br /> <br /> Park Trust Fund - 10% of excess/deficit <br /> Equipment Replacement Fund - 10% of excess/deficit <br /> Public Facilities Construction Fund - 40% of excess/deficit <br /> Public Improvement Revolving Fund - 40% of excess/deficit <br /> <br />Committee: <br /> <br />Motion to recommend to City Council to adopt Resolution #04-10-XXX Establishing a <br />Financial Policy for the Purpose of Allocation of Excess/Deficient General Fund <br />Revenues. <br /> <br /> <br />