HomeMy WebLinkAbout2022-098 Fund Balance Reserve PolicyRESOLUTION NO. 2022-98
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LAKE ELSINORE,
CALIFORNIA, ADOPTING CITY COUNCIL POLICY NO. 300-9, “FUND
BALANCE RESERVE POLICY”
WHEREAS, the City Council of the City of Lake Elsinore is charged with the responsibility
of establishing the laws of the City of Lake Elsinore through the enactment of ordinances,
resolutions and official policies.
WHEREAS, City Council Policies are an expression of City Council’s direction as to the
conduct of City business enacted to guide the various functions of the City and, where necessary,
to establish procedures by which functions are performed.
WHEREAS, the City Council desires to update a City Policy regarding unallocated
revenues and give direction regarding the level and administration of reserve funds.
THE CITY OF LAKE ELSINORE DOES RESOLVE AS FOLLOWS:
Section 1: That the foregoing recitals are true and correct and are incorporated herein
by reference.
Section 2: The City Council of the City of Lake Elsinore hereby adopts City Council Policy
No. 300-9, “Fund Balance Reserve Policy” as the City of Lake Elsinore’s official policy related to
the City’s reserve funds which are set aside to address specific needs and future contingencies,
in the form as approved by the City Council on October 11, 2022. The revised Policy 300-9
replaces existing Policy 300-9 in its entirety
SECTION 3: That the City Clerk shall certify to the passage and adoption of this resolution
and the same shall thereupon take effect and be in force.
Passed and Adopted at a regular meeting of the City Council of the City of Lake Elsinore,
California, this 11th day of October 2022.
Timothy J. Sheridan
Mayor
Attest:
Candice Alvarez, MMC
City Clerk
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Reso No. 2022-98
Page 2 of 2
STATE OF CALIFORNIA)
COUNTY OF RIVERSIDE) ss.
CITY OF LAKE ELSINORE)
I, Candice Alvarez, MMC, City Clerk of the City of Lake Elsinore, California, do hereby certify that
Resolution No. 2022-98 was adopted by the City Council of the City of Lake Elsinore, California,
at the Regular meeting of October 11, 2022 and that the same was adopted by the following vote:
AYES: Council Members Magee, Tisdale, and Manos; Mayor Pro Tem Johnson; and Mayor
Sheridan
NOES: None
ABSENT: None
ABSTAIN: None
Candice Alvarez, MMC
City Clerk
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