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RESOLUTION NO. 7860 <br /> CITY OF MOUNDS VIEW <br /> COUNTY OF RAMSEY <br /> STATE OF MINNESOTA <br /> Committing Community Center Special Revenue Fund Balance for Future Building <br /> Maintenance <br /> WHEREAS, the City desires to maintain accounting records that follow Generally <br /> Accepted Accounting Principles (GAAP); and <br /> WHEREAS, Governmental Accountings Standards Board Statement 54 - Fund Balance <br /> Reporting and Governmental Fund Type Definitions requires the City to change how fund <br /> balance is reported; and <br /> WHEREAS, the Community Center Special Revenue Fund is operated by an outside <br /> contractor; and <br /> WHEREAS, the contract requires the City to budget and accumulate sufficient resources <br /> to maintain the facility in good condition; and <br /> WHEREAS, the City Council would like to "Commit" the Community Center Special <br /> Revenue Fund balance for future building maintenance of the facility in conformance with <br /> contractual provisions. <br /> NOW THEREFORE, BE IT RESOLVED by the City Council of the City of Mounds View <br /> that the Community Center Special Revenue Fund Balance is Committed for future <br /> maintenance of the facility. <br /> Adopted this 28th day of November 2011. <br /> dle�- <br /> FTaYeM—, Mayof <br /> ATTEST: <br /> James Ericson, City Administrator <br /> (SEAL) <br />