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<br />4. wtt:ut:vt:.l Ll.lt: uumLt:.l uf LuJJiug pt:uuiL::; t:Xl.:t:t:J::; Ltt: uumbt:.l buJgdt:J, LI.lt: <br />aJJiLiuual geut:.lal fuuJ ::;t:.lvil.:t: t:xpau::;iuu ft:t: .It:vt:uut: wJI bt: Jt:pu::;iLt:J iuLu Ltt: CumLiut:J <br />CapiLal IU.l}l.luvt:lut:uL r .lUg.lalU Ii uuJ. <br /> <br />Reserve Policies <br />Policy 28 <br />The city shall establish reserve funds to pay for needs caused by unforeseen events. The <br />reserve shall be held to help with the following three events: (1) catastrophic reserves, to <br />provide limited emergency funds in the event of natural or man-made disasters, (2) <br />operational reserves, to provide additional funds for limited unexpected service needs such <br />as additional snow removal, and (3) liquidity reserves, to provide limited funds to smooth <br />fluctuations in revenues caused by changes in economic conditions. A minimum of six <br />percent of the general fund operating budget shall be held in reserve. <br />Action: Rescind <br />New fund balance policy was created by Resolution 42, Series 1996. (See Fund <br />Balance Policy - Policies 45, 46, 47). <br /> <br />Accounting Policies <br />Policy 41 <br />The City will establish and maintain a high degree of accounting practice. Accounting <br />systems will conform to accepted principles of standards of the Governmental Accounting <br />Standards Board, Government Finance Officers Association, and the State of Colorado <br />aud Lllt: N a Liuua:l Cuuul.:il uu Ouvt:luult:uLal Al.:l.:uuuLiug. <br /> <br />PASSED AND ADOPTED th;s 18th Day of Ma'~ <br /> <br />n~>>~ <br /> <br />T om Davidson, Mayor <br /> <br />ATTEST: <br /> <br />~_~n~ ~ <br />David Clabots, City Clerk <br /> <br />APPROVED AS TO FORM: <br /> <br />G1lr;:1:~~ <br /> <br />City Attorney <br />