File #: ID 2017-055    Version: 1 Name:
Type: Resolution Status: Passed
File created: 1/26/2017 In control: Regular City Commission Meeting
On agenda: 2/15/2017 Final action: 2/15/2017
Title: AMENDING THE FUND BALANCE POLICY; PROVIDING FOR COMMITTED FUND BALANCE.
Attachments: 1. RESOLUTION, 2. BACKUP - CITIZEN PROJ INITIATIVE RES.pdf, 3. BACKUP - RESOLUTION 15-096

 

TO:                     Mayor and City Commission

 

FROM:                     Douglas E. Smith, City Manager

 

DATE:                     February 15, 2017

 

 

Title

AMENDING THE FUND BALANCE POLICY; PROVIDING FOR COMMITTED FUND BALANCE.

Body

 

 

BACKGROUND:                     On September 16, 2015, the City Commission approved (Resolution 15-096) a fund balance policy including the establishment of committed revenue sources with internally self-imposed limitations pursuant to Governmental Accounting Standards Board (GASB) Statement No. 54. This resolution provides for the remaining fund balances of the Student Involvement and Resident Projects funds to be committed to Citizen Project Initiatives.                      

 

 

RECOMMENDATION:                     For approval.

 

 

FISCAL IMPACT:                     none - transfer of monies only

 

 

CONTACT PERSON:                     Mary Beazley, Finance Director