Short Term Reserves
Resolution text
Resolved, That the Executive Council, pursuant to Resolution FFM-078 (June 2017), allocate 20 percent, or $920,000, of the estimated budgetary surplus for the 2016-2018 triennium to the short-term reserves; and be it further
Resolved, That the balance of the estimated surplus, $3,680,000, remain in the cash operating account, which has been used to fund various non-budgetary actions approved by Executive Council; and be it further
Resolved, That $2,880,000 of the proceeds from the sale of Block 87 (Austin) be allocated to the short-term reserves.