CC - 2008-01 - Adopting a Fund Balance Reserve PolicyRESOLUTION NO. 2008-01
A RESOLUTION OF THE CITY OF ROSEMEAD ADOPTING A FUND
BALANCE RESERVE POLICY
WHEREAS, the City of Rosemead is interested in formalizing a Fund
Balance Reserve policy; and
WHEREAS, the City Manager directed staff to bring a reserve policy to the
City Council for consideration and action; and
WHEREAS, staff has researched and presented information on the
various methods of calculating reserves and funding methods;
NOW, THEREFORE, THE CITY OF ROSEMEAD DOES HEREBY
RESOLVE AS FOLLOWS:
Section 1. The above recitals are true and correct and a substantive
part of this Resolution.
Section 2. That the Fund Balance Reserve Policy for the Rosemead
General Fund hereto attached and marked "Exhibit B" is hereby adopted.
Section 3. The City Clerk shall certify to the adoption of this Resolution
and cause the same to be processed in accordance with state law.
PASSED, APPROVED and ADOPTED this 8th day of January, 2008.
ATTEST:
CA CITY CLERK
M R OF THE CITY OF ROSEMEAD
CITY ATTORNEY
Page 1 of 1
STATE OF CALIFORNIA )
COUNTY OF LOS ANGELES ) SS.
CITY OF ROSEMEAD )
1, Gloria Molleda, City Clerk of the City of Rosemead, do hereby certify that the
foregoing Resolution No.2008-01 being:
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ROSEMEAD
ADOPTING A FUND BALANCE RESEVE POLICY
was duly and regularly approved and adopted by the Rosemead City Council on
the, 8th of January 2008 by the following vote to wit:
Yes:Low, Nunez,Tran
No:Clark, Taylor
Abstain:None
Absent:None
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Gloria Molleda
City Clerk