HomeMy WebLinkAbout423 - Transfer Between FundsCITY OF REDDING, CALIFORNIA
COUNCIL POLICY
SUBJECT RESOLUTION
NUM BER
POLICY
NUM BER
EFFECTIVE
DATE PAGE
Transfers Between Funds 2003-164 423 10-21-03 1 of 1
BACKGROUND
The City has established a Contingency Reserve Fund to segregate funds for future expenditures contained in
the General Fund’s Ten-Year Plan or other purposes as approved by the City Council. A key responsibility of
city government is to manage resources as efficiently and effectively as possible. To assist in managing the
resources of the General Fund and the Contingency Reserve Fund effectively and efficiently there may be times
when it would be beneficial to make transfers between these two funds. In these instances there would be no
net impact to the City’s budget or Ten-Year Plan.
PURPOSE
To allow City staff to manage City resources in the most efficient and effective way, the following policy would
authorize the Finance Officer, with the City Manager’s approval, to make transfers between the General Fund
and the Contingency Reserve Fund.
POLICY
It is the policy of the City Council of the City of Redding to authorize the Finance Officer, with the City
Manager’s approval, to administratively make transfers between the General Fund and the Contingency Reserve
Fund. The following conditions shall be met for all administrative transfers between these funds:
1. Transfers shall only be for purposes previously approved by the City Council in the General Fund’s Ten-Year
Plan or other purposes as approved by the City Council.
2. There shall be no net effect on the General Fund’s Ten-Year Plan or the City’s overall budget.
3. There shall be no net change in appropriations.
PROCEDURE
Transfers such as those described above shall be approved in the same manner as Appropriation Transfer
Requests ( reference Council Policy 401).
Amended on June 1, 2004, by Resolution No. 04-87.