HomeMy WebLinkAbout2004-12-14 - General Fund Balance PolicyA RESOLUTION ESTABLISHING A GENERAL FUND BALANCE POLICY FOR
THE CITY OF RIVERSIDE, MISSOURI.
WHEREAS, the City of Riverside, Missouri ("City") receives substantial revenues
relating to the Argosy Casino located within the City; and
WHEREAS, the City has, since the Argosy Casino first years of operation, pursued a
comprehensive capital improvements program; and
WHEREAS, the City has also maintained an unencumbered general fund balance of at
least $5,000,000 for at least the last five years; and
WHEREAS, the City desires to make its practice of maintaining an unencumbered
general fund balance of at least $5,000,000 a formal policy of the City; and
NOW THEREFORE, BE IT RESOLVED, by the Board of Aldermen of the City of
Riverside, Missouri as follows:
Section 1. The City hereby adopts a policy of maintaining an unencumbered general
fund balance of at least $5,000,000 at all time. The City understands that this is a policy, not a
requirement and such policy can be changed by future action of the Board of Alderman of the
City of Riverside, Missouri.
Section 2. This Resolution shall be effective immediately from the date of its passage.
Passed this 14th day of December, 2004.
Betty Burch, Mayor
Attest:
Louise Rusick, City Clerk