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REQUEST FOR CITY COUNCILAGENDA ITEM <br />Budget <br />Agenda Date Requested:23 September2013 <br />Source of Funds: <br />Requested By:Michael G. Dolby <br />Account Number: <br />Department: Finance <br />Amount Budgeted: <br />Report: Resolution:XOrdinance: <br />Amount Requested: <br />Exhibit:Resolution <br />Budgeted Item:YESNO <br />SUMMARY & RECOMMENDATION <br />GASB 54 has a requirement that must be completed prior to the end of the fiscal year to commit <br />fund balance of the General Fund. The General Fund fund balance can only be committed for a <br />specific purpose by formal action of the City council. Committed fundbalance does not lapse at <br />year-end. . The formal action required to commit fund balance shall be by resolution. <br />The Fiscal Affairs Committee received a staff briefing on this resolution at the September 9, 2013 <br />meeting and had no concerns. <br />A recommendation has been made to commit $2,000,000 for future utility capital projectsand <br />$1,500,000 for the Health Fund. <br />Action Required by the La Porte City Council: <br />Consider approval or other action of a Resolution reserving $1,500,000 for the Health Fund and <br />$2,000,000 for future utility capital improvement projects. <br />Approved for the La Porte City CouncilAgenda <br />Corby D. Alexander,City ManagerDate <br /> <br />