File #: 14-195    Version: 1 Name:
Type: Order Status: Passed
File created: 5/21/2014 In control: Town Council
On agenda: 6/17/2014 Final action: 6/17/2014
Title: To adopt an order regarding committed fund balance.
Attachments: 1. Cover Sheet 14-195, 2. Committed Fund Balance resolution - FY '15
I.      Council Action Requested.
Title
To adopt an order regarding committed fund balance.
 
Body
II.      Basis for Council Action.
 
Council approval of this item is required because;
  1. the Council has the authority to act as the legislative body of the Town pursuant to Article II, Section 3(I) of the Charter.
 
III.      Issue Summary.
 
 
A government at its highest level of decision-making may formally place a constraint on the use of its own resources that remains legally binding unless removed in the same manner.  Resources subject to such self-imposed legal constraints are reflected in committed fund balance.