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<br /> <br /> <br />CITY OF LINO LAKES <br />RESOLUTION NO. 21-149 <br /> <br />COMMITTING FUND BALANCE IN THE GENERAL FUND <br /> <br />WHEREAS, the city fund balance is comprised of distinct components with very distinct <br />purposes. Under GASB 54, Minnesota cities need to report five different components of fund <br />balances to the OSA each year; a) nonspendable, b) restricted, c) committed, d) assigned, and e) <br />unassigned. <br /> <br />WHEREAS, the City Council may set aside funds for a specific purpose by committing funds. <br /> <br />WHEREAS, funds were budgeted, but left unspent in the General Fund in 2021. Fire turn-out <br />gear was ordered in 2021 as part of the fire gear replacement plan, but due to supply chain delays <br />it will not be received until 2022. <br /> <br />NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Lino Lakes that <br />$36,622 will be committed within the General Fund for 2021 Fire Turn-Out Gear. <br /> <br /> <br />Adopted by the City Council of the City of Lino Lakes this 13th day of December, 2021. <br /> <br /> <br />The motion for the adoption of the foregoing resolution was introduced by Councilmember <br />_______________and was duly seconded by Councilmember ________________ and upon vote <br />being taken thereon, the following voted in favor thereof: <br /> <br />The following voted against same: <br /> <br /> <br /> <br />_______________________________ <br />Rob Rafferty, Mayor <br /> <br />ATTEST: <br /> <br />________________________ <br />Julianne Bartell, City Clerk <br /> <br />