Laserfiche WebLink
���0 CITY OF ORONO <br /> RESOLUTION OF THE CITY COUNCIL <br /> y� ��� No. 6 9 0 9 <br /> �qkFsxo�`` <br /> A RESOLUTION SETTING THE MAXIMUM FUND BALANCE <br /> OF THE INSURANCE FUND <br /> WHEREAS, the City created the Insurance Internal Service Fund effective January 1, <br /> 2000; and <br /> WHEREAS, the fund balance has increased from an original amount of$123,900 to an <br /> estimated $605,000; and <br /> WHEREAS, The current fund balance is more than sufficient for the fund's needs; <br /> NOW THEREFORE BE IT RESOLVED, that the Orono City Council, hereby sets the <br /> maximum fund balance of the Insurance Fund at$300,000. At the end of the fiscal year, funds in <br /> excess of the maximum may be transferred to another fund as designated by the City Council. <br /> Adopted by the City Council of the City of Orono, Minnesota at a regular meeting held <br /> October 8, 2018. <br /> ATTEST: <br /> . <br /> Anna Carlson, City Clerk Dennis Walsh, Mayor <br />