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When committed, assigned, or unassigned resources are available for use, it is the City's <br /> policy to use resources in the following order; 1) committed, 2) assigned, and 3) <br /> unassigned. <br /> When actual revenues exceed actual expenditures in a given year, the excess shall be <br /> allocated as follows: <br /> a) Any excess shall be first allocated to "Assigned" fund balance to bring that portion <br /> of fund balance to an amount equal to fifty percent(50%) of the next years adopted <br /> operating budget plus prior-year encumbrances(if any)plus compensated absences. <br /> b) Any excess after complying with fund balance requirements in steps a) and b) shall be <br /> allocated to revolving, trust and replacement funds in the following manner: <br /> Thirty Percent (30%) to Fund#234 - Equipment Replacement Fund <br /> Thirty Percent 30%)to Fund#810—Capital Maintenance Fund <br /> Ten percent 10% to Fund#412—Public Facilities Construction Fund <br /> Thirty percent 30% to Fund#400 - Public Improvement Revolving Fund <br /> When actual expenditures exceed actual revenues in a given year,the deficit shall be treated <br /> as follows: <br /> a) "Assigned" fund balance shall first be adjusted to an amount equal to fifty percent <br /> (50%) of the next years adopted operating budget (less transfers in) and p prior year <br /> encumbrances (if any) <br /> b) If shortage after complying with fund balance requirement in step a) and b) shall draw <br /> funds in the following manner: <br /> Thirty Percent (30%) to Fund#234 - Equipment Replacement Fund <br /> Thirty Percent 30%)to Fund#810—Capital Maintenance Fund <br /> Ten percent 10% to Fund#412—Public Facilities Construction Fund <br /> Thirty percent 30% to Fund#400 - Public Improvement Revolving Fund <br /> 2) The Ramsey City Council hereby establishes this policy effective with the year ended <br /> December 31, 2024. <br /> The motion for the adoption of the foregoing resolution was duly seconded by Councilmember <br /> and upon vote being taken thereon, the following voted in favor thereof: <br /> and the following voted against the same: <br /> and the following abstained: <br /> and the following were absent: <br /> whereupon said resolution was declared duly passed and adopted by the Ramsey City Council <br /> this the day of November 2024. <br /> Resolution #24-XXX <br />