HomeMy WebLinkAbout2018-319-5/14/2018 Prepared by LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street,
Waterloo, IA 50703, (319) 291-4323.
RESOLUTION NO. 2018-319
RESOLUTION APPROVING DESIGNATION OF REVENUE
EARNED FROM POLICE DEPARTMENT CITATIONS TO
APPLY TO FUNDS IN EXCESS OF $220,000, BY HOLDING
REVENUE IN AN ACCOUNT USED AS POLICE REVENUE IN
THE BUDGET YEAR TWO YEARS FOLLOWING RECEIPT
OF SAID FUNDS, ASSIGNING USE OF SAID REVENUE FOR
PROPERTY TAX REDUCTION, AND CLASSIFYING SAID
REVENUE AS COMMITTED FUND BALANCE ON THE
CITY'S FINANCIAL STATEMENTS.
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF WATERLOO, IOWA,
that the resolution approving designation of revenue earned from Police Department Citations to
apply to funds in excess of$225,000, by holding revenue in an account used as police revenue in
the budget year two years following receipt of said funds, assigning use of said revenue for
property tax reduction, and classifying said revenue as committed fund balance on the City's
financial statements, is hereby approved and the Mayor and City Clerk are authorized to execute
the same on behalf of the City of Waterloo, Iowa.
PASSED AND ADOPTED this 14th day of May 2018.
Quentin Hart, Mayor
ATTEST:
Kelley Felch
City Clerk