Laserfiche WebLink
REQUEST FOR FISCAL AFFAIRS COMMITTEE AGENDA ITEMREQUEST FOR FISCAL AFFAIRS COMMITTEE AGENDA ITEM <br />September 28, 2015September 28, 2015AppropriationAppropriation <br />Agenda Date Requested:Agenda Date Requested: <br />Source of Funds:Source of Funds: <br />Michael DolbyMichael Dolby <br />Requested By:Requested By: <br />Account Number:Account Number: <br />FinanceFinance <br />Department: <br />Amount Budgeted:Amount Budgeted: <br />Report:Resolution:Resolution:Ordinance:Ordinance: <br />Amount Requested:Amount Requested: <br />Exhibits: <br />Budgeted Item:Budgeted Item:YESYESNONO <br />1. Resolution Resolution <br />SUMMARY & RECOMMENDATIONSSUMMARY & RECOMMENDATIONS <br />  <br />GASB 54 has a requirement that must be completed prior to the end of the fiscal year to commit fund balance of GASB 54 has a requirement that must be completed prior to the end of the <br /> fiscal year to commit fund balance of <br />the General Fund. The General Fund fund balance can only be committed for a specific purpose by formal action the General Fund. The General Fund fund balance can only be committed for <br /> a specific purpose by formal action <br />of the City council. Committed fund balance does not lapse at yearof the City council. Committed fund balance does not lapse at year--end.  The formal action required to commit end.  <br /> The formal action required to commit <br />fund balance shall be by resolution. The $5,000,000 committed in fiscal year 2014 for utility improvements will fund balance shall be by resolution. The $5,000,000 committed in fiscal <br /> year 2014 for utility improvements will <br />remain committed and will be used in the 2015remain committed and will be used in the 2015--2016 budget. $2,000,000 will be committed as of September 30, 2016 budget. $2,000,000 will <br /> be committed as of September 30, <br />2015 from the General Fund for Health Insurance2015 from the General Fund for Health Insurance <br />The total committed funds as of September 30, 2015 will be $7,000,000.The total committed funds as of September 30, 2015 will be $7,000,000. <br />                                  <br />                                  Utility Improvements                         $5,000,000                                  Utility Improvements                         $5,000,000 <br />                                  Health Insurance                                 $2,000,000                                  Health Insurance                                 $2,000,000 <br /> <br />Action Required by the Fiscal Affairs Committee:Action Required by the Fiscal Affairs Committee: <br />Approve resolution.Approve resolution. <br />Approved for Fiscal Affairs Committee AgendaApproved for Fiscal Affairs Committee Agenda <br />Corby D. Alexander, City ManagerCorby D. Alexander, City ManagerDateDate <br /> <br />