HomeMy WebLinkAboutRes 2017-12-391 Fund Balance CommitmentCITY OF ANNA, TEXAS
RESOLUTION NO. ,6117 lq . ,ql
A RESOLUTION OF THE CITY OF ANNA, TEXAS AUTHORIZING THE COMMITMENT
OF FUND BALANCE FROM THE FISCAL YEAR 2016-2017
WHEREAS, this Government Standards Accounting Board (GASB) has issued
Statement No. 54 establishing a hierarchy clarifying the constraints that govern how a
government entity can use amounts reported as fund balance; and
WHEREAS, the Council is the highest level of decision-making authority, and has the
authority to commit existing fund balance classifications and identify the intended uses
of committed fund balance; and
WHEREAS, the committed fund balance classification reflects amounts subject to
internal constraints self-imposed by the Council; and
WHEREAS, once the committed fund balance constraints are imposed, it requires the
constraint to be removed by the Council prior to redirecting the funds for other
purposes; and
WHEREAS, the Council has determined it will commit $560,391 of the fund balance
from the General Fund and $497,200 of the fund balance from the Utility Fund from the
year ending September 30, 2017 for the purposes of completing projects and purchases
of tools and equipment previously approved in the budget amendment ordinance 747-
2017 for FY 2016-2017.
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
ANNA, TEXAS THAT:
Section 1. Recitals Incorporated.
The recitals set forth above are incorporated herein for all purposes as if set forth in full.
Section 2. Approval and Authorization of Commitment of Fund Balance
The Council hereby approves and authorizes the commitment of the fund balance for
projects and purchases approved, but not completed in the subsequent fiscal year as
attached as Exhibit A.
PASSED AND APPROVED by the City Council of the City of Anna, Texas on this 12th
day of December, 2017.
Res. Fund Balance Commitment PAGE 1 OF 2 12-12-17
ATTEST:
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Carrie Smith, City Secretary
APPROVED:
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Nate Pike, Mayor
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Res. Fund Balance Commitment PAGE 2 OF 2 12-12-17
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