HomeMy WebLinkAbout2011-169 CCR Member Dan Ryan introduced the following resolution and moved its
adoption:
RESOLUTION NO. 2011 -169
RESOLUTION COMMITTING CAPITAL PROJECT FUND BALANCES
WHEREAS, the Governmental Accounting Standards Board's Statement No. 54
definition of committed fund balance describes that portion of fund balance that represents
resources whose use is constrained by limitations that the government imposes upon itself at its
highest level of decision- making; and
WHEREAS, Council action is required to formalize the commitment of any
governmental fund balance for specific purposes; and
WHEREAS, it has been determined to commit capital project fund balances in the
City's capital project fund where no external restriction currently exists.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of
Brooklyn Center that effective December 12, 2011 the capital project fund balances are
committed are follows:
On
,� nd
Capital Reserve Emergency Emergency needs due to damage, loss, or failure of existing
buildings and other improvements to real property (Financial
Policies, Section H - Budget Policies, 2.4 Capital Reserve Fund
Policy)
Capital Improvements Capital equipment, infrastructure improvements and
construction, and similar projects for general government
(Financial Policies, Section II - Budget Policies, 2.3 Capital
Improvements Fund Expenditure Policy)
Street Reconstruction Infrastructure reconstruction
Technology Technology improvements or major technology
renovations/replacements
December 12 2011
Date Mayor
ATTEST: JLAA1-/kAAf
LWY
City Clerk
The motion for the adoption of the foregoing resolution was duly seconded by member
Kay Lasman
and upon vote being taken thereon, the following voted in favor thereof:
Tim Willson, Carol Kleven, Kay Lasman, and Dam Ryan;
and the following voted against the same: none;
whereupon said resolution was declared duly passed and adopted.