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<br />RESOLUTION <br /> <br />WHEREAS, it is essential that governments maintain adequate levels of fund balance to <br />mitigate current and future risks (e.g. revenue shortfalls and unanticipated expenditures); <br />and <br /> <br />WHEREAS, appropriate levels of un designated general fund balances ensure stable tax <br />rates; and <br /> <br />WHEREAS, fund balance levels are a crucial consideration, too, in long-term financial <br />planning; <br /> <br />THEREFORE, LET IT BE RESOLVED that the City Council of University City, <br />Missouri hereby recognizes the importance of maintaining an appropriate level of <br />undesignated general fund balance at the beginning of each fiscal year; and <br /> <br />LET IT FURTHER BE RESOLVED, that the City Council of University City, Missouri <br />hereby recommends and approves an undesignated general fund balance of at least 17% <br />of the budgeted general fund expenditures for the ensuing fiscal year, beginning July 1, <br />2005. <br /> <br /> <br />Adopted <br /> <br />lo- \0 <br />