Res 2011-113 Adopt Fund Balance PolicyG
all :'
RESOLUTION 2011 -113
WHEREAS, GASB No. 54 will be effective December 31, 2011 requiring the city to have a
fund balance policy; and
WHEREAS, the fund balance policy includes fund balance classifications; and
WHEREAS, the special revenue fund balance classifications will be determined by council in a
separate action; and
WHEREAS, with the implementation of GASB No. 54, the facility reserve and infrastructure
funds will now be classified as capital project funds; and
WHEREAS, it is required that the City of Mendota Heights have a clear, written policy on the
procedures and rules governing the fund balances.
NOW THEREFORE BE IT RESOLVED that the attached Fund Balance Policy, dated
December 6, 2011, is hereby adopted.
Adopted by the City Council of the City of Mendota Heights this sixth day of December 2011.
Sandie Thone, City Clerk
i
CITY COUNCIL
CITY OF M ENDOTA HEIGHTS
an Krebsbach, yor