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.7 <br />No. R-96-05 <br />CITY OF FALCON HEIGHTS <br />COUNCIL RESOLUTION <br />Date: 3/13/96 <br />A RESOLUTION AMENDING THE CITY'S RISK MANAGEMENT FUND <br />BUDGETS FOR 1995 AND 1996 <br />WHEREAS, the city's risk management fund is currently classified as a <br />special revenue fund; and <br />WHEREAS, according to GASB Statement No. 10, governments <br />accounting for risk financing activities where risk is retained by the government entity, <br />should use either the general fund or an internal service fund; <br />• NOW THEREFORE, BE IT RESOLVED, that the fund budgets be <br />eliminated for 1995 and 1996, allowing for a transfer of the fund's remaining fund <br />balance in fiscal year 1995, and thereby closing the fund and enabling the city to <br />adhere to GAAP when issuing the 1995 and 1996 financial statements. <br />Moved by: Gibson Talbot <br />GEHRZ 4 In Favor <br />GIBBON TALBOT <br />HUSTAD 0 Against <br />JACOBS <br />Approved by: ~,~.~ ~.~ _ ,~ ~ ~~~ . <br />Mayor <br />3/13/96 <br />Date <br />Attested by: l.~ d~-1.~..,a-- `~aZ.x-~--~'.~..t.1`~--~ <br />City Clerk <br />3/13/96 <br />Date <br />• <br />