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Resolution 2008 – 2 Budget Transfers <br />WHEREAS <br /> by the City Council of University City, Missouri, that the City Council <br />has determined the City Manager should hold a certain level of budget transfer authority <br />for efficient City operations. <br />NOW THEREFORE BE IT RESOLVED <br />, that the City Council approves the <br />delegation to the City Manager of budget transfer authority, subject to the following: <br />1. Transfer authority pertains only to intra departmental transfers; <br />2. Each such transfer shall be no more than $25,000 per individual line item <br />classification; <br />3. The following transfers are specifically not authorized: transfers between <br />departments or funds, transfers effecting a policy change, transfers <br />increasing or decreasing the total fiscal year budgeted expenditures or <br />revenues, and/or transfers using contingency funds; <br />4. Transfers executed per this Resolution shall be recorded and documented <br />in the usual course; <br />5. Council shall quarterly receive a report of transfers executed per this <br />Resolution; <br />6. This Resolution shall be effective for one year from the date of its <br />adoption, and shall be reviewed by Council within thirty days prior to the <br />one year expiration date for determination of whether to renew, modify, or <br />allow to expire. <br />th <br />Adopted this 15 day of January, 2008. <br /> _____________________________ <br /> Joseph Adams, Mayor <br />____________________________ <br />Joyce Pumm, City Clerk <br /> <br />