2011_1128_Packet - Laserfiche WebLink

Home

64 Attachment A 65 EXTRACT OF MINUTES OF MEETING OF THE 66 CITY COUNCIL OF THE CITY OF ROSEVILLE 67 68 69 70 Pursuant to due call and notice thereof, a regular meeting of the City Council of the City of Roseville, 71 County of Ramsey, Minnesota was duly held on the 28th day of November 2011 at 6:00 p.m. "7 3 The following members were present: 74 and the following were absent: "7 5 "7 6 Member introduced the following resolution and moved its adoption: 77 78 79 RESOLUTION 80 81 RESOLUTION ADOPTING FUND BALANCE CATEGORIZATIONS 8 83 84 WHEREAS,the City Council of the City of Roseville, Minnesota desires to adhere to generally accepted 85 governmental accounting and financial reporting standards; and 86 87 WHEREAS, the Governmental Accounting Standards Board (GASB) is nationally recognized as the 88 industry standard-bearer for governmental accounting and financial reporting requirements; and 89 go WHEREAS, the GASB has adopted Statement #54; which prescribes a new requirement designed to 9,1 enhance and clarify fund balance classifications and to promote greater consistency in governmental 9d"'? financial reporting; and 93 94 WHEREAS, the GASB has further prescribed that this new requirement be accompanied by a Fund 95 Balance Policy and Spending Prioritization Policy, which is presented in Exhibit A. 96 97 NOW,THEREFORE,BE IT RESOLVED,by the City Council of the City of Roseville,Minnesota,that the 98 categorizations and policies related to GASB Statement#54 as shown in Exhibit B be adopted and remain 99 in effect until such time that a subsequent policy action is taken. '100 The motion for the adoption of the foregoing resolution was duly seconded by member and upon a 101 vote being taken thereon, the following voted in favor thereof: 1 od! '103 and the following voted against the same: '104 '105 WHEREUPON, said resolution was declared duly passed and adopted. '106 10"7 Page 4 of 7