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6. 18. <br /> CC Regular Session <br /> Meeting Date: 11/26/2024 <br /> PrimaryStrategic Plan Initiative: Identify and implement operational efficiencies,cost savings and additional <br /> g funding sources. <br /> Title: <br /> Adopt Resolution#24-331 Amending Financial Policy for Purpose of Allocation of Excess/Deficient General <br /> Fund Revenues <br /> Purpose/Background: <br /> Purpose: To amend the current policy with the removal of the compensation absence liability component. <br /> The Financial Policy for the Allocation of Excess/Deficient General Fund Revenues is a guiding policy for how <br /> excess/deficient funds should be distributed at year end. The City Council has the discretion to direct the transfer <br /> of funds at year end as they see current needs. <br /> Notification: <br /> Amended policy was presented to the City Council at the November 12, 2024 worksession. <br /> Recommendation: <br /> Staff recommends adopting the amended policy. <br /> Outcome/Action: <br /> Motion for City Council to adopt Resolution#24-331 Resolution Establishing a Financial Policy for Purpose of <br /> Allocation of Excess/Deficient General Fund Revenues. <br /> Attachments <br /> Reso#24-331 <br /> Form Review <br /> Inbox Reviewed By Date <br /> Brian Hagen Brian Hagen 11/20/2024 11:19 AM <br /> Form Started By:Diana Lund Started On: 11/13/2024 10:21 AM <br /> Final Approval Date:11/20/2024 <br />