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  Item No. 14.       
Meeting Date: 01/09/2020  
COMMITTEE:  
CONTACT: Monica Garcia CHAIR: Steve Henderson

ACTION REQUESTED:
Resolution 20-07 - Consider approval of Resolution 20-07 amending the Financial Policies pertaining to Section 3.1.4 transfer limits.
BACKGROUND:
Initiated by: MONICA P GARCIA

At the November 7, 2019 Finance Committee Meeting, the committee decided to move forward with setting transfer limits within departments of the same fund to avoid confusion with approval of projects that have not gone to Council. The Finance Committee agreed that the limit in the policies should read “Up to $250,000, City Manager may approve, anything over $250,000 must be approved by the City Council.
 
At the December 3, 2019 Finance Committee Meeting the committee requested the transfer limits be approved by Resolution.
FINANCIAL CONSIDERATION
This is a policy procedure and there is no fiscal impact.
LEGAL REVIEW:
The resolution has been submitted to Legal for review.
BOARD AND COMMITTEE ACTION:
The Finance Committee recommended (3-0) approval at their meeting on January 2, 2020.
STAFF RECOMMENDATION:
Consider approval of Resolution 20-07 amending the Financial Policies pertaining to Section 3.1.4 transfer limits.
Attachments
ATT 1 Resolution 20-07


    

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