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