(A) The city receives inflows from revenue and other financing sources from numerous sources for use in the General Fund. The Fund will expend those resources on multiple purposes of the local government. The intention of this subchapter is to identify the expenditure order of resource categories for the General Fund. Resources will be categorized according to Generally Accepted Accounting Principles (GAAP) for state and local governments. When both restricted and unrestricted are available in the General Fund, the following spending policy will apply:
(1) First Restricted;
(2) Second Committed;
(3) Third Assigned; and
(4) Fourth Unassigned.
(B) The City Council, Mayor, and Clerk/Treasurer individually have the authority to express assignments in the General Fund.
(Res. 909, passed 6-27-2011)