Res 2010- 84 Adopt Fund Balance PolicyCITY OF MENDOTA HEIGHTS
DAKOTA COUNTY, MINNESOTA
RESOLUTION NO. 10- 84
RESOLUTION ADOPTING FUND BALANCE POLICY
WHEREAS, GASB No. 54 will be effective December 31, 2011 requiring the city to
have a fund balance policy; and
WHEREAS, it is the responsibility of the city to maintain prudent financial operations;
and
WHEREAS, fund balances are an important component in ensuring that the city is able
to meet cash flow timing needs and contingencies; 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 of the general and special
revenue funds.
NOW THEREFORE BE IT RESOLVED that the attached Fund Balance Policy, dated
October 11, 2010, is hereby adopted.
Adopted by the City Council of the City of Mendota Heights this nineteenth day of
October, 2010.
CITY COUNCIL
CITY OF MENDOTA HEIGHTS
BY:
ATTEST:
Nancya—B;IYI r, Acting City Clerk
L. Vitelli, Acting Mayor