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<br />RESOLUTION NO. 2019-12-142 <br /> <br />RESOLUTION COMMITTING SPECIFIC REVENUE SOURCES IN SPECIAL REVENUE <br />FUNDS FOR THE CITY OF LITTLE CANADA <br /> <br />WHEREAS, the Governmental Accounting Standards Board's Statement #54 definition of special revenue <br />funds states that special revenue funds are used to account for and report the proceeds of specific revenue <br />sources that are restricted or committed to expenditures for specified purposes other than debt service or capital <br />projects; and, <br /> <br />WHEREAS, the term "proceeds of specific revenue sources'' establishes that one or· more specific restricted <br />or committed revenues should be the foundation for a special revenue fund and comprise a substantial portion <br />of the fund's revenues; and, <br /> <br />WHEREAS, investment earnings and transfers from other funds do not meet the definition of a specific revenue <br />source; and, <br /> <br />WHEREAS, council action is required to formalize the commitment of the specific revenue sources to <br />specified purposes. <br /> <br />WHEREAS, council action is required to formalize the commitment of fund balance. <br /> <br />NOW THEREFORE BE IT RESOLVED, the City Council of the City of Little Canada, County of Ramsey, State of <br />Minnesota that the specific revenue sources of each special revenue fund and the specific purpose for which they are <br />restricted or committed are as follows: <br /> <br />Fund Specific Revenue Sources Committed For: <br />Parks & Recreation Recreation activity fees Recreation programs, recreation <br />facilities, maintenance, rental and <br />program administration <br />Cable TV Cable franchise fees Operation and maintenance of a <br />government access channel and <br />for the administration of public <br />broadcasting capabilities, studio <br />improvements, official city <br />communications, and other <br />capital expenditures improving <br />the overall cable system <br />Economic Development Debt Issuance fees for conduit <br />debt <br />Activities to promote economic <br />development <br />Recycling Charges for services Contracted organized collection <br />costs and administrative cost for <br />billing and customer service <br />THEREFORE, be it further resolved that the fund balance of the above scheduled funds be committed by the City <br />Council for the specific purpose as stated above: <br /> <br /> Passed this 18th day of December, 2019. <br /> _________________________________ <br /> John T Keis, Mayor <br />Attest: <br /> <br />___________________________________ <br />Christopher Heineman, City Administrator