HOMER,
Wythe
ORDINANCE 08-34
AN ORDINANCE OF THE
WHEREAS,
The City Council received copies of the 2007 Comprehensive Annual Financial
Report (Audit) and heard a presentation from the Auditors at its regular
meeting on
WHEREAS, The Audit indicates that General Fund revenues exceeded expenditures by $1,458,126 in 2007 and that the fund balance increased by $1,123,964; and
WHEREAS, The Council wishes to provide seed money for the newly created Permanent Fund and to stay on course with its goal of increasing General Fund Reserves to recommended levels.
Section 1. The Homer City Council finds that appropriating $600,000 from the General Fund Reserves and depositing that amount into the Permanent Fund is in the public interest and hereby appropriates the funds as follows:
Account No. Description Amount
Expenditure Description Amount
Account No. Description Amount
Account No. Description Amount
Section 2. This is a budget amendment ordinance, is temporary in nature, and is a non-code ordinance which shall not be codified.
ENACTED BY
THE
_____________________________
JAMES C. HORNADAY, MAYOR
ATTEST:
______________________________
JO JOHNSON,
AYES:
NOES:
ABSTAIN:
ABSENT:
First
Public Hearing:
Second
Effective Date:
Reviewed and approved as to form:
_________________________ __________________________
Walt Wrede, City Manager City Attorney
Date: ____________________ Date: _____________________
Fiscal Note: $600,000 General Fund Reserves