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87 <br />88 <br />89 <br />90 <br />91 <br />92 <br />93 <br />94 <br />95 <br />96 <br />97 <br />98 <br />99 <br />100 <br />101 <br />102 <br />103 <br />104 <br />105 <br />106 <br />107 <br />108 <br />109 <br />110 <br />111 <br />112 <br />113 <br />114 <br />115 <br />116 <br />117 <br />118 <br />119 <br />120 <br />121 <br />122 <br />123 <br />124 <br />125 <br />126 <br />127 <br />128 <br />129 <br />130 <br />Attachment A <br />EXTRACT OF MINUTES OF MEETING OF THE <br />CITY COUNCIL OF THE CITY OF ROSEVILLE <br />Pursuant to due call and notice thereof, a regular meeting of the City Council of the City of Roseville, <br />County of Ramsey, Minnesota was duly held on the 23rd day of January 2012 at 6:00 p.m. <br />The following members were present: <br />and the following were absent: <br />Member introduced the following resolution and moved its adoption: <br />RESOLUTION <br />RESOLUTION ADOPTING FUND BALANCE CATEGORIZATIONS <br />WHEREAS, the City Council of the City of Roseville, Minnesota desires to adhere to generally accepted <br />governmental accounting and financial reporting standards; and <br />WHEREAS, the Governmental Accounting Standards Board (GASB) is nationally recognized as the <br />industry standard - bearer for governmental accounting and financial reporting requirements; and <br />WHEREAS, the GASB has adopted Statement #54; which prescribes a new requirement designed to <br />enhance and clarify fund balance classifications and to promote greater consistency in governmental <br />financial reporting; and <br />WHEREAS, the GASB has further prescribed that this new requirement be accompanied by a Fund <br />Balance Policy and Spending Prioritization Policy, which is presented in Exhibit A. <br />NOW, THEREFORE, BE IT RESOLVED, by the City Council of the City of Roseville, Minnesota, that the <br />categorizations and policies related to GASB Statement #54 as shown in Exhibit B be adopted and remain <br />in effect until such time that a subsequent policy action is taken. <br />The motion for the adoption of the foregoing resolution was duly seconded by member and upon a <br />vote being taken thereon, the following voted in favor thereof: <br />and the following voted against the same: <br />WHEREUPON, said resolution was declared duly passed and adopted. <br />Page 4 of 7 <br />