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RESOLUTION NO. 11- <br /> A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PLEASANTON <br /> ESTABLISHING THE DESIGNATION OF FUND BALANCE RESERVES IN <br /> CONFORMANCE WITH THE GOVERNMENTAL ACCOUNTING STANDARDS <br /> BOARD STATEMENT NO. 54, "FUND BALANCE REPORTING AND <br /> GOVERNMENTAL FUND TYPE DEFINITIONS" <br /> WHEREAS, in March 2009, the Governmental Accounting Standards Board (GASB) <br /> issued Statement No. 54 that clarifies and brings consistency to the reporting of fund balance <br /> reserves for the government sector; and <br /> WHEREAS, the City is required to implement these provisions no later than June 30, <br /> 2011 and to utilize these fund balance reserve designations in the City's comprehensive annual <br /> financial report (CAFR) for 2010/11 FY. <br /> NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF PLEASANTON <br /> RESOLVES AS FOLLOWS: <br /> Section 1: The City Council "commits" the General Fund reserves in accordance <br /> with the City's fiscal policies for the Economic Uncertainty Reserve, the Temporary Recession <br /> Reserve and "assigns" the Golf Course Debt Service Reserve in conformance with GASB <br /> Statement No. 54. <br /> Section 2: The City Council designates the Finance Director as the City official to <br /> determine and define the amounts of those components of fund balance that are classified as <br /> "Assigned Fund Balance." <br /> PASSED, APPROVED AND ADOPTED by the City Council of the City of Pleasanton at <br /> a regular meeting held on June 21, 2011. <br /> I, Karen Diaz, City Clerk of the City of Pleasanton, California, certify that the foregoing <br /> resolution was adopted by the City Council at a regular meeting held on the 21st day of June <br /> 2011, by the following vote: <br /> Ayes: Councilmembers <br /> Noes: None <br /> Absent: None <br /> Karen Diaz, City Clerk <br /> APPROVED AS TO FORM: <br /> Jonathan P. Lowell, City Attorney <br />