HomeMy WebLinkAboutResolution 23-134 CITY OF LINO LAKES
RESOLUTION NO. 23-134
COMMITTING GENERAL FUND BALANCE
WHEREAS, fund balance is comprised of distinct components with distinct purposes.
Under GASB 54, cities need to report five different components of fund balance to the Office of
the State Auditor each year; a) nonspendable, b) restricted, c) committed, d) assigned, and e)
unassigned, and
WHEREAS, the City Council may set aside funds for a specific purpose by committing
funds, and
WHEREAS, funds were budgeted, but left unspent in the General Fund in 2023.
NOW, THEREFORE, BE IT RESOLVED by the City Council of Lino Lakes, Minnesota that
$25,667 will be committed within the General Fund for fire turn out gear ordered in October
2023, but not anticipated to be received until January 2024.
Adopted by the City Council of the City of Lino Lakes this 11th day of December, 2023.
/L.` /24 6` "n\"_
Rob Rafferty, Mayor
ATTEST:
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Jolleen Chaika, City Clerk