HomeMy WebLinkAbout91-069
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CITY OF ARDEN HILLS
RAMSEY COUNTY, MINNESOTA
RESOLUTION NO. 91-69
RESOLUTION CLOSING FUND 520 - GENERAL IMPROVEMENT
WHEREAS, Fund 520 - General Improvements, is a capital
Projects Fund designed to account for all resources used for
the acquisition or construction of major capital facilities,
and
WHEREAS, monies are transferred from Fund 501 to Fund 520 at
year end to cover costs of improvement projects, and
WHEREAS, city staff does not prepare an annual budget for
Fund 520 because it is a duplication of Fund 501, and
WHEREAS, the City Auditor has recommended the combining of
Funds 520 and 501 on the basis of GAAP (Generally Accepted
Accounting Principles) which states to use a "minimum number
of funds", and
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NOW, THEREFORE, BE IT RESOLVED, the City Council approves
the closing of Fund 520 - General Improvements into Fund 501
- Permanent Improvement Revolving as recommended by city
Auditor, city Administrator, and city Accountant.
ADOPTED by the Arden Hills city council this 9th day of
December, 1991.
~i~~ ~OUNCIL
~OF ARD'Rf2
I ~111 ,~
Thomas R. Sather, Mayor
ATTEST:
~ 1{ B~
Gary R. Berger, city Administrator
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