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The second change is related to fund balance commitments. To meet the definition of committed <br /> fund balance, the Council is required to adopt a resolution "committing" specific revenues prior <br /> • to the end of the year. This resolution will be presented to the City on November 28t. Attached <br /> is the anticipated fund balance classifications for each Governmental Fund with balances as of <br /> 2010. The commitments made by the Council cannot change without Council taking similar <br /> action to remove them. <br /> The final change is related to the City's Fund Balance Policies originally adopted on February, <br /> 25, 2008. The Fund Balance Policies need to be revised to authorize the Director of Finance and <br /> Administrative Services and/or City Administrator to assign fund balances to reflect the City's <br /> intended use of funds. This does not change the authority to actually spend resources, but to <br /> assign resources for a presentation standpoint only. The Fund Balance Policies also need to <br /> include how the City intends to use its resources when multiple categories of fund balance are <br /> available. The revised Fund Balance Policies are attached. There have been several minor <br /> changes made to reflect the new terminology used in GASB 54 and to reflect how funds are <br /> currently being used. Again, the revised policy does not change how the City conducts business <br /> or the General Fund reserve. Changes to the policies have been shown in the black-lines revision <br /> attached. <br /> 411111 <br />