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When commuted, assigned, or unassigned resources are available for use, it is the City's <br />policy to use resources in the following order; 1) commuted, 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 of <br />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 4234 - Equipment Replacement Fund <br />Thirty Percent 30%) to Fund 4810 — Capital Maintenance Fund <br />Ten percent 10% to Fund 4412 — Public Facilities Construction Fund <br />Thirty percent 30% to Fund 4400 - 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 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 4234 - Equipment Replacement Fund <br />Thirty Percent 30%) to Fund 4810 — Capital Maintenance Fund <br />Ten percent 10% to Fund 4412 — Public Facilities Construction Fund <br />Thirty percent 30% to Fund 4400 - 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 Councimember <br />Woestehoff, and upon vote being taken thereon, the following voted in favor thereof: <br />Mayor Kuzma <br />Councimember Musgrove <br />Councimember Woestehoff <br />Councimember Howell <br />Councimember Olson <br />Councimember Riley <br />Councimember Specht <br />Resolution #24-331 <br />Page 2 of 3 <br />