HomeMy WebLinkAboutResolution 24-170CITY OF LINO LAKES
RESOLUTION NO. 24-170
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 2024.
NOW, THEREFORE, BE IT RESOLVED by the City Council of Lino Lakes, Minnesota that
$17,500 will be committed within the General Fund for fire turn out gear ordered in 2024, but
not anticipated to be received until February 2025.
Adopted by the City Council of the City of Lino Lakes this 911 day of December, 2024.
ATTEST:
Roberta Colotti, CIVIC, City Clerk
R b _Ra ferty, Mayor