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<br /> <br /> STAFF REPORT <br /> <br /> <br /> <br />TO: Mayor Keis and Members of the City Council <br /> <br />FROM: Chris Heineman, City Administrator <br />Brenda Malinowski, Finance Director <br />DATE: December 13, 2019 <br /> <br />RE: Special Revenue Funds-Commitment of Fund Balances <br /> <br /> <br />ACTION REQUESTED: <br />Reaffirm the commitment of the fund balance of special revenue funds as listed in Resolution <br />2019-12-142. <br /> <br />BACKGROUND: <br />The Government Standards Accounting Board (GASB) issued Statement 54, Fund Balance and <br />Reporting and Governmental Fund Type Definitions in 2009. This statement classified fund <br />balance into categories. One category of fund balance is committed fund balance. The City <br />commits fund balance in our special revenue funds. Per our City audit staff, fund balance should <br />be re-committed at least periodically. Council last approved these commitments in 2011. Staff <br />has updated the Cable Fund commitment to reflect the communication items that have coded to <br />the Cable Fund since the last approval in 2011. <br /> <br />STAFF RECOMMENDATION: <br />Reaffirm the commitment of the fund balance of special revenue funds as listed in Resolution <br />2019-12-142. <br /> <br /> <br />