HomeMy WebLinkAbout2022-148 Council Resolution CITY OF LINO LAKES
RESOLUTION NO. 22-148
COMMITTING FUND BALANCE IN THE GENERAL FUND
WHEREAS, the City fund balance is comprised of distinct components with very distinct
purposes. Under GASB 54, Minnesota cities need to report five different components of fund
balances to the OSA each year; a) nonspendable, b) restricted, c) committed, d) assigned, and e)
unassigned.
WHEREAS, the City Council may set aside funds for a specific purpose by committing funds.
WHEREAS, funds were budgeted, but left unspent in the General Fund in 2022.
NOW, THEREFORE,BE IT RESOLVED by the City Council of the City of Lino Lakes that
$8,600 will be committed within the General Fund for fire laptops.
Adopted by the City Council of the City of Lino Lakes this 12th day of December, 2022.
The motion for the adoption of the foregoing resolution was introduced by Councilmember
L.0erl and was duly seconded by Councilmember 1-2-UNCind and upon vote
being taken th reon,the following voted in favor thereof: P3I-Ker4, CV- in,
The following voted against same: m ov.)e,
ob afferty,Mayor
ATTEST:
Julianne Bartel?, City Clerk 1
CITY COUNCIL
AGENDA ITEM 2B
STAFF ORIGINATOR: Hannah Lynch,Finance Director
MEETING DATE: December 12, 2022
TOPIC: Committing General Fund Balance
VOTE REQUIRED: 3/5
BACKGROUND
The 2022 General Fund Budget includes $8,600 within Fire Capital Outlay for 2 ToughBook
FZ55 laptops to be mounted in El 1 and E21. The laptops will be a resource for fire responders
and provide vital information regarding fire calls for services. Public Safety staff has been
working to obtain a grant to cover the laptop purchase and have yet to hear back on the
availability/award of the funds. If grant funds cannot be obtained the budgeted dollars will be
needed to make the laptop purchase. The unspent funds will remain in the City's General Fund
Balance at 12/31/2022.
Staff recommends committing the funds within the General Fund. Committed funds will allow
the use of 2022 budgeted funds in fiscal year 2023 without having a budget impact. Funds can
only be spent for the reason specified. Any unspent funds will no longer be committed after the
expenditure for laptops has been made.
RECOMMENDATION
Staff recommends approving Resolution No. 22-148.
ATTACHMENTS
Resolution No. 22-148