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;
a. 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.