With these changes the revised NRO 5-135A reads:
It is the policy of the Board of Aldermen to maintain an undesignated fund balance not less
than 10% of the city’s general fund adopted in its current fiscal year annual budget.
This makes the traditional practice for maintaining a minimum level of the undesignated general
fund balance consistent with the ordinance.
Stating a specific date is unnecessary, since the 10% minimum condition applies throughout the
fiscal year. This also defines the baseline for purpose of the calculation of the minimum amount
to be the general fund adopted in the current annual budget (consider that the general fund could
change with a supplemental budget resolution throughout the year).
Finally, the general fund is not necessarily fully appropriated when adopted (for example,
appropriation of contingency funding is reserved), so I deleted the reference to “general fund
appropmiations” in favor of “general fund adoption.”
Sued §. Seeloam
Former Alderman-at-Large
