Res 2011-112 Commit Specific Revenue Sources in Special Revenue FundsRESOLUTION 2011 -112
A RESOLUTION COMMITTING SPECIFIC REVENUE SOURCES IN SPECIAL
REVENUE FUNDS
WHEREAS, the Governmental Accounting Standards Board's Statement
Number 54 definition of special revenue funds states that special revenue funds are used to
account for and report the proceeds of specific revenue sources that are restricted or committed
to expenditures for specified purposes other than debt service or capital projects; and,
WHEREAS, the term "proceeds of specific revenue sources" establishes that one
or more specific restricted or committed revenues should be the foundation for a special revenue
fund and comprise a substantial portion of the fund's revenues; and,
WHEREAS, council action is required to formalize the commitment of the
specific revenue sources to specified purposes.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of
Mendota Heights that the specific revenue source of each special revenue fund and the specific
purposes for which they are restricted or committed are as follows:
Fund
Specific Revenue
Committed For
Restricted For
Sources
Water
Water Surcharges
Water System
Revenue
Maintenance Expenses
Special Park
Park Dedication Fees
Parks Equipment Upgrades
Civil
Property Tax
Emergency Preparedness
Defense
Levy
and Civil Defense
Expenses
Street
Property Tax
Industrial Park Street Light Maintenance and
Lighting
Levy from Specific
Operational Expenses
Industrial Park Parcels
BE IT FURTHER RESOLVED, the foundational revenue source and
commitment and restriction of those sources is stated above and it is known there will be other
residual revenue streams, and it is the intention that these funds be committed or restricted for
the same purpose specified for that fund.
Adopted by the City Council of the City of Mendota Heights this sixth day of December, 2011.
i 1
DO I I l 1191 :1;
Sidra Krebsbach, yor
Sandie Thone, City Clerk