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RESOLUTION NO. 7860 <br /> <br />CITY OF MOUNDS VIEW <br />COUNTY OF RAMSEY <br /> STATE OF MINNESOTA <br /> <br />Committing Community Center Special Revenue Fund Balance for Future Building <br />Maintenance <br /> <br />WHEREAS, the City desires to maintain accounting records that follow Generally <br />Accepted Accounting Principles (GAAP); and <br /> <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 /> <br />WHEREAS, the Community Center Special Revenue Fund is operated by an outside <br />contractor; and <br /> <br />WHEREAS, the contract requires the City to budget and accumulate sufficient resources <br />to maintain the facility in good condition; and <br /> <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 /> <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 /> <br />Adopted this 28th day of November 2011. <br /> <br /> __________________________ <br /> Joe Flaherty, Mayor <br /> <br />ATTEST: <br /> __________________________ <br />Jim Ericson, City Administrator <br />(SEAL)