RES 11463 - Laserfiche WebLink

RESOLUTION NO. 11-463 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PLEASANTON ESTABLISHING THE DESIGNATION OF FUND BALANCE RESERVES IN CONFORMANCE WITH THE GOVERNMENTAL ACCOUNTING STANDARDS BOARD STATEMENT NO. 54, "FUND BALANCE REPORTING AND GOVERNMENTAL FUND TYPE DEFINITIONS" WHEREAS, in March 2009, the Governmental Accounting Standards Board (GASB) issued Statement No. 54 that clarifies and brings consistency to the reporting of fund balance reserves for the government sector; and WHEREAS, the City is required to implement these provisions no later than June 30, 2011 and to utilize these fund balance reserve designations in the City's comprehensive annual financial report (CAFR) for 2010/11 FY. NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF PLEASANTON RESOLVES AS FOLLOWS: Section 1: The City Council "commits" the General Fund reserves in accordance with the City's fiscal policies for the Economic Uncertainty Reserve, the Temporary Recession Reserve and "assigns" the Golf Course Debt Service Reserve in conformance with GASB Statement No. 54. Section 2: The City Council designates the Finance Director as the City official to determine and define the amounts of those components of fund balance that are classified as "Assigned Fund Balance." PASSED, APPROVED AND ADOPTED by the City Council of the City of Pleasanton at a regular meeting held on June 21, 2011. I, Karen Diaz, City Clerk of the City of Pleasanton, California, certify that the foregoing resolution was adopted by the City Council at a regular meeting held on the 21st day of June 2011, by the following vote: Ayes: Councilmembers Sullivan, Thorne, Vice-Mayor Cook-Kallio Noes: None Absent: Councilmember McGovern, Mayor Hosterman Abstain: None ? 6C�� fen Diaz, City Clerk APPROVED AS TO FORM: P. Lowell, City Attorney