Laserfiche WebLink
REQUEST FOR FISCAL AFFAIRS AGENDA ITEM <br />Agenda Date Requested: September 24, 2012 <br />Requested By: Michael Dolby, CPA Director of Finance <br />Department: FINANCE <br />Report: Resolution: Ordinance: <br />Exhibits: <br />Exhibits: <br />Amount Budgeted <br />Source of Funds: N/A <br />Account Number: <br />Amount Budgeted: <br />Amount Requested: <br />Budgeted Item: YES NO <br />SUMMARY AND RECOMMENDATION <br />A resolution regarding GASB 54 was passed by City Council during September 2011. The <br />resolution delegated the authority to assign fund balances for a specific purpose to the City <br />Manager following approval by the Fiscal Affairs Committee. <br />Staff is requesting the fiscal affairs committee to authorize the City Manager to assign $1.5 <br />million dollars in the general fund for future health care expenses. Staff is also requesting the <br />Fiscal Affairs Committee to approve the assignment of encumbrances for specific future <br />expenditures. <br />In accordance with our GASB 54 resolution, the city council will commit funds for current <br />capital projects for: <br />Public works, Parks, Police, Planning, Economic Development, Information Technology, Fire <br />and, Golf Course for water, wastewater, drainage, streets, sidewalks, public facilities, and <br />infrastructure improvements, and public facilities. The approximate amount of the projects is $4 <br />to $11.5 million dollars. Staff will come back to council at a later date with the amounts <br />committed. <br />Action Required by Fiscal Affairs Committee: <br />Consider approval or other action authorizing the City Manger to assign $1.5 in General Fund for <br />future health care expenses and assign encumbrances for future expenditures. <br />Approved for Fiscal Affairs Agenda <br />Corby D. Alexander, City Manager <br />Date <br />