Park Ridge · Public record
Proposed revision of the fund balance policy deferred
AI-assisted researchHow this was researched and checkedStaff proposed replacing the General Fund target of three months of budgeted operating expenditures, set in a policy last revised on December 19, 2011, with a range of three to six months of budgeted expenditures excluding one-time expenditures. After a discussion on December 14, 2020, when members agreed to look further at the recommended changes, the Committee of the Whole voted 4–3 on January 25, 2021 to defer the item to a committee meeting in May. The records reviewed do not show the revision adopted.
Documented status: Proposed (reported in a later record), Jan 25 2021. Evidence dated . Later outcomes require a later source.
What changed, and when did it take effect?
· Proposed · Recorded in minutes
Committee of the Whole discusses a staff proposal to revise the policy
Meeting date: Dec 14 2020. Meeting date: Dec 14 2020. Condition (other): Consensus was reached amongst Alderman to prioritize this and look more into the recommended changes. Other date: Dec 19 2011.
p. 1 · Staff memo of Fund Balance Policy, Committee of the Whole, Dec 14 2020. Open the quote and source.
p. 1 · Approved minutes of Committee of the Whole minutes, 2020-12-14, Committee of the Whole, Dec 14 2020. Open the quote and source.
p. 1 · Staff memo of Fund Balance Policy, Committee of the Whole, Dec 14 2020. Open the quote and source.
p. 3 · Approved minutes of Committee of the Whole minutes, 2020-12-14, Committee of the Whole, Dec 14 2020. Open the quote and source.
· Other · Recorded in minutes
Committee of the Whole defers the proposed revision
Meeting date: Jan 25 2021. Agenda item 5.: Approve Revised Council Policy Statement 40 - Fund Balance and Target Fund Balance. Motion to continue (item III.A.5). Motion to continue (item III.A.5). Item III.A.5: the motion carried (4 to 3).
p. 2 · Approved minutes of Committee of the Whole minutes, 2021-01-25, Committee of the Whole, Jan 25 2021. Open the quote and source.
p. 1 · Approved minutes of Committee of the Whole minutes, 2021-01-25, Committee of the Whole, Jan 25 2021. Open the quote and source.
p. 2 · Approved minutes of Committee of the Whole minutes, 2021-01-25, Committee of the Whole, Jan 25 2021. Open the quote and source.
p. 3 · Approved minutes of Committee of the Whole minutes, 2021-01-25, Committee of the Whole, Jan 25 2021. Open the quote and source.
p. 3 · Approved minutes of Committee of the Whole minutes, 2021-01-25, Committee of the Whole, Jan 25 2021. Open the quote and source.
· Proposed · Reported by staff
Staff recommends a three-to-six-month target range
Meeting date: Jan 25 2021. Condition (other): a range of three to six months of budgeted expenditures, excluding one-time expenditures. Other date: Feb 1 2021.
p. 1 · Staff memo of Approve Revised Council Policy Statement 40 - Fund Balance and Target Fund Balance, Committee of the Whole, Jan 25 2021. Open the quote and source.
p. 2 · Staff memo of Approve Revised Council Policy Statement 40 - Fund Balance and Target Fund Balance, Committee of the Whole, Jan 25 2021. Open the quote and source.
p. 1 · Staff memo of Approve Revised Council Policy Statement 40 - Fund Balance and Target Fund Balance, Committee of the Whole, Jan 25 2021. Open the quote and source.
What was requested, recommended, approved, contracted, reported paid and completed?
Amounts are read from the cited pages and added up by code. A recommendation, an award or an authorized amount does not establish that money was paid.
No amount is published for this item.
Contracts, payments and completion
No contract, payment or completion record is published for this item. Approval alone does not establish completion.
Which parcels, agencies, businesses and projects are explicitly connected?
Official identifiers and exhibit listings connect records. A name, an address or distance alone only suggests a connection.
No explicit connection is published for this item.
What remains unresolved?
Open
a range of three to six months of budgeted expenditures, excluding one-time expenditures
Confirm dates with the City before relying on them.
p. 1 · Staff memo of Approve Revised Council Policy Statement 40 - Fund Balance and Target Fund Balance, Committee of the Whole, Jan 25 2021. Open the quote and source.
Open
the Target Fund Balance shall be equal to three months of budgeted operating expenditures
Confirm dates with the City before relying on them.
p. 8 · Staff memo of Fund Balance Policy, Committee of the Whole, Dec 14 2020. Open the quote and source.
Open
Consensus was reached amongst Alderman to prioritize this and look more into the recommended changes
Confirm dates with the City before relying on them.
p. 3 · Approved minutes of Committee of the Whole minutes, 2020-12-14, Committee of the Whole, Dec 14 2020. Open the quote and source.
Open questions
No open question is recorded for this item.
What does the evidence suggest, and what would change it?
No conflicting records are published for this item.
Official source records
- Fund Balance Policy
Committee of the Whole, Dec 14 2020
- Committee of the Whole minutes, 2020-12-14
Committee of the Whole, Dec 14 2020
- Committee of the Whole minutes, 2021-01-25
Committee of the Whole, Jan 25 2021
- Approve Revised Council Policy Statement 40 - Fund Balance and Target Fund Balance
Committee of the Whole, Jan 25 2021
Editions and corrections
Each published change is a new edition. Corrections say what changed and why.
Edition 3(current)
Edition 3: 3 revised.
Edition 2Read this edition
Edition 2: 3 revised.
Edition 1Read this edition
First edition.