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<br />RESOLUTION NO. 1 <br />SERIES 1986 <br /> <br />A RESOLUTION AMENDING FINANCIAL POLICIES <br />FOR THE CITY OF LOUISVILLE <br /> <br /> <br /> <br />WHEREAS, the City adopted Financial Policies for the City of <br />Louisville by Resolution #19, Series 1984; and <br /> <br />WHEREAS, the need exists to clarify Operating Budget Policy <br />#24 for the City. <br /> <br />NOW, THEREFORE, THE COUNCIL OF THE CITY OF LOUISVILLE, COLORADO, <br />HEREBY RESOLVES, that the City of Louisville Financial Policy <br />~ shall be amended and adopted as follows: <br /> <br />OLlCY 24 <br /> <br />~e City will pay for all current expenditures with current <br />~venues. The City's General Fund budget will not be <br />~alanced through the use of transfers from other funds, <br />appropriations from fund balances or growth revenues such <br />as service expansion fees. <br /> <br />Implementation <br /> <br />1. It is the City's intent to eliminate the general fund <br />service expansion fee by the 1989 budget. <br /> <br />2. During this period no more than $.SS/sq. ft. of the <br />service expansion fee shall be budgeted in the <br />general fund. <br /> <br />3. When calculating the annual general fund revenue budget <br />the service expansion fee will be calculated last. Only <br />the amount necessary to cover general fund expenditures <br />will be budgeted up to the maximum of .55/sq. ft. <br /> <br />4. Whenever the number of building permits exceeds the number <br />budgeted, the additional general fund service expansion <br />fee revenue will be deposited into the Combined Capital <br />Improvement Program Fund. <br /> <br /> <br />ADOPTED THIS 7th DAY OF JANUARY, 1986. <br /> <br />~4:~ <br />M Y <br />ATTEST: <br /> <br />--- ~ <br /> <br /> <br />. ~\-~ <br />,,: j--' ''---Q~=-c_ ' <br />-__li/))LLC<:\ - l/,-_:::;, <br />CITY CLERK <br />