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A resolution adopting the revised Fund Balance Reserve Policies for The Metropolitan Government of Nashville and Davidson County.
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WHEREAS, pursuant to Ordinance No. BL2022-1632, the Metropolitan Council amended the Metropolitan Code of Laws to create Section 5.04.170 requiring The Metropolitan Government of Nashville and Davidson County to maintain a fund balance reserve policy; and
WHEREAS, pursuant to RS2022-1901, the Metropolitan Council adopted the Fund Balance Reserve Policies as required by MCL 5.04.170; and
WHEREAS, pursuant to MCL 5.04.170(D), the Metropolitan Department of Finance is required to annually review the Fund Balance Reserve Policies as part of the preparation of the annual operating budget, with any requested amendments to such policies submitted to the Metropolitan Council for review and approval by resolution; and
WHEREAS, the Metropolitan Department of Finance has reviewed the existing Fund Balance Reserve Policies and recommends that it be revised, effective for Fiscal Year 2026 that begins on July 1, 2025; and
WHEREAS, the policies' revisions will improve the Metropolitan Government's ability to maintain fund balance targets, will aid in long-term planning by providing resources across funding cycles, and addresses the non-use of surplus appropriations authorized pursuant to the policies; and
WHEREAS, it is fitting and proper that the Metropolitan Council adopt the revised Fund Balance Reserve Policies, a copy of which is attached hereto as Exhibit A.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE METROPOLITAN GOVERNMENT OF NASHVILLE AND DAVIDSON COUNTY:
Section 1. The Metropolitan Council hereby approves and adopts the revised Fund Balance Reserve Policies for The Metropolitan Government of Nashville and Davidson County, attached as Exhibit A and incorporated herein by reference, such policies to be effective as of July 1, 2025.
Section 2. This Resolution shall take effect from and after its adoption, the welfare...
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