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REQUEST FOR CITY COUNCIL AGENDA ITEMREQUEST FOR CITY COUNCIL AGENDA ITEM <br />September 22, 2014September 22, 2014AppropriationAppropriation <br />Agenda Date Requested:Agenda Date Requested: <br />N/A N/A <br />Michael Dolby Michael Dolby Source of Funds:Source of Funds: <br />Requested By: <br />Account Number:Account Number: <br />Finance Finance <br />Department: <br />Amount Budgeted:Amount Budgeted: <br />Report:Resolution:Resolution:Ordinance:Ordinance: <br />Amount Requested:Amount Requested: <br />Other: <br />Budgeted Item:Budgeted Item:YESYESNONO <br />Attachments :Attachments : <br />1. Resolution1. 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 $2,000,000 committed in fiscal year 2013 for future construction will be fund balance shall be by resolution. The $2,000,000 committed in fiscal <br />year 2013 for future construction will be <br />used in the 2014used in the 2014--2015 budget. The $1,500,000 committed in fiscal year 2012 for health expenses will remain 2015 budget. The $1,500,000 committed in fiscal year 2012 <br />for health expenses will remain <br />committed. A recommendation has been made to commit $5,000,000 for utility improvements.committed. A recommendation has been made to commit $5,000,000 for utility improvements. <br /> The total committed funds as of September 30, 2014 will be $8,500,000. The total committed funds as of September 30, 2014 will be $8,500,000. <br />                                   Utility Improvements                         $5,000,000                                   Utility Improvements                         $5,000,000 <br />                                  Future Construction                           $2,000,000                                  Future Construction                           $2,000,000 <br />                                  Health Expenses                                 $1,500,000                                  Health Expenses                                 $1,500,000 <br /> <br />Action Required of Council:Action Required of Council: <br />Consider approval or other action to approve a resolution committing a total of $5 million of Consider approval or other action to approve a resolution committing a total of $5 million <br />of <br />General Fund Balance for Utility improvements.General Fund Balance for Utility improvements. <br />Approved for City Council AgendaApproved for City Council Agenda <br />Corby D. Alexander, City ManagerCorby D. Alexander, City ManagerDateDate <br /> <br />