25LINKBUDGET(FULL) - Flipbook - Page 150
Section 4: Investment of Fund
The money in the Fund may be invested as provided by law, with the earnings of the Fund to be returned to the General Fund.
Section 5: Appropriations from Fund
Money in the Fund may be appropriated, by resolution, adopted by two-thirds (2/3) vote of the City Commission for the following
purposes:
a)
To cover a General Fund deficit revealed by the annual audit.
b)
To prevent a reduction in service levels at any time during a fiscal year, when budgeted revenues are not being
collected in an amount sufficient to cover budgeted expenditures.
c)
To prevent a reduction in service levels, when preparing the budget for the next fiscal year if it appears that
estimated revenues will not be sufficient to cover estimated expenditures.
d)
To cover expenses arising because of a natural disaster, provided that any federal or state funds which are received
to offset appropriations from the Fund shall be returned to the Fund.
In determining whether revenues are not sufficient to cover expenses, a reduction in the amount of money received from any
source, in comparison to the amount received in the previous fiscal year, shall be considered.
Adopted July 1, 1991
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