HomeMy WebLinkAboutCCRes_96-05.7
No. R-96-05
CITY OF FALCON HEIGHTS
COUNCIL RESOLUTION
Date: 3/13/96
A RESOLUTION AMENDING THE CITY'S RISK MANAGEMENT FUND
BUDGETS FOR 1995 AND 1996
WHEREAS, the city's risk management fund is currently classified as a
special revenue fund; and
WHEREAS, according to GASB Statement No. 10, governments
accounting for risk financing activities where risk is retained by the government entity,
should use either the general fund or an internal service fund;
• NOW THEREFORE, BE IT RESOLVED, that the fund budgets be
eliminated for 1995 and 1996, allowing for a transfer of the fund's remaining fund
balance in fiscal year 1995, and thereby closing the fund and enabling the city to
adhere to GAAP when issuing the 1995 and 1996 financial statements.
Moved by: Gibson Talbot
GEHRZ 4 In Favor
GIBBON TALBOT
HUSTAD 0 Against
JACOBS
Approved by: ~,~.~ ~.~ _ ,~ ~ ~~~ .
Mayor
3/13/96
Date
Attested by: l.~ d~-1.~..,a-- `~aZ.x-~--~'.~..t.1`~--~
City Clerk
3/13/96
Date
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