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<br />. <br /> <br />CITY OF ARDEN HILLS <br />RAMSEY COUNTY, MINNESOTA <br /> <br />RESOLUTION NO. 91-69 <br /> <br />RESOLUTION CLOSING FUND 520 - GENERAL IMPROVEMENT <br /> <br />WHEREAS, Fund 520 - General Improvements, is a capital <br />Projects Fund designed to account for all resources used for <br />the acquisition or construction of major capital facilities, <br />and <br /> <br />WHEREAS, monies are transferred from Fund 501 to Fund 520 at <br />year end to cover costs of improvement projects, and <br /> <br />WHEREAS, city staff does not prepare an annual budget for <br />Fund 520 because it is a duplication of Fund 501, and <br /> <br />WHEREAS, the City Auditor has recommended the combining of <br />Funds 520 and 501 on the basis of GAAP (Generally Accepted <br />Accounting Principles) which states to use a "minimum number <br />of funds", and <br /> <br />. <br /> <br />NOW, THEREFORE, BE IT RESOLVED, the City Council approves <br />the closing of Fund 520 - General Improvements into Fund 501 <br />- Permanent Improvement Revolving as recommended by city <br />Auditor, city Administrator, and city Accountant. <br /> <br />ADOPTED by the Arden Hills city council this 9th day of <br />December, 1991. <br /> <br />~i~~ ~OUNCIL <br />~OF ARD'Rf2 <br />I ~111 ,~ <br />Thomas R. Sather, Mayor <br /> <br />ATTEST: <br /> <br />~ 1{ B~ <br />Gary R. Berger, city Administrator <br /> <br />. <br />