Title
Adoption of Resolution regarding the Designation of Fund Balance for Supplemental Retiree Health Care
Body
Resolved that the Rochester Hills City Council recognizes the City's future Supplemental Retiree Health Care costs by way of designating $2,000,000 of fund balance in the General Fund, $400,000 of fund balance in the Fire Operating Fund, and $800,000 in the Water & Sewer Operating Fund retained earnings.
Be It Further Resolved that the designation does not signify a legal reservation of funds. The designation is intended to be an unreserved portion of funds that merely indicates that the City Council has tentative plans concerning the use of the designated amounts.