2017-38 RESOLUTION NO. 2017-38
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF GRAND
TERRACE, CALIFORNIA, COMITTING FUND BALANCE FOR FISCAL
YEARS 2016-17 AND 2017-18 IN ACCORDANCE WITH
GOVERNMENTAL ACCOUNTING STANDARDS BOARD STATEMENT
54 AND CITY RESERVES POLICY NO. 3.06
WHEREAS, the Governmental Accounting Standards Board (GASB) issued
Statement No. 54, Fund Balance Reporting and Governmental Fund Type Definitions,
establishing a hierarchy clarifying the constraints that govern how a government entity
can use amounts reported as fund balance; and
WHEREAS, GASB 54 allows the governing body to formalize the commitment of
unassigned fund balance to a specified purpose; and
WHEREAS, the City Council is the highest level of decision-making authority,
and has the . authority to commit, assign, or evaluate existing fund balance
classifications and identify the intended uses of committed or assigned funds; and
WHEREAS, the committed fund balance classification' reflects amounts subject
to internal restraints self-imposed by the City Council; and
WHEREAS, once the committed fund balance restraints are imposed, it requires
the constraint to be removed by the City Council prior to redirecting the funds for other
purposes; and
WHEREAS, the City Council has determined it will commit its General ,Fund
reserves of$894,126.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF GRAND
TERRACE, CALIFORNIA, DOES HEREBY RESOLVE AS FOLLOWS:
THAT, in accordance.with the provisions of GASB 54, the City Council hereby
commits the following funds:
GENERAL FUND - Fund Balance, FY2016-17 and FY2017-18
Nonspendable:
Prepaid Costs $0
Deposits _ 0
_ $0
Restricted for:
Community Development Projects (e.g. Parks
Fund, Facilities Fund)
2017-38 CC Reso Page 1 of 2 December 12, 2017
GENERAL FUND - Fund Balance, FY2016-17 and FY2017-18
Public Safety (e.g. SLESF Fund) 0
Public Works (e.g. Street Fund & other transportation funds) 0 0
_ 0
Committed to: I _
Committed to Contingencies (General Fund: #10) i_ 433,457
Committed to Community Services
Community Benefits Fund: #61 21,128
Light Up Grand Terrace Fund: #62 3,884
GT-illegal Fireworks Enforcement Fund: #63 405
—� — 17,649
Committed to Public Safety (Public Safety Fund: 294,833
#64 ,
Committed to Fixed Assets (Equipment 147,917
Replacement Reserve Fund: #70)—
Unassigned 0
Fund Balance, 06-30-2017, GENERAL FUND jaQ1,6114
PASSED, APPROVED AND ADOPTED by the City Council of the City of
Grand Terrace at a regular meeting held on the 12th day of December 2017. -
Darcy McNaboe, Mayor
ATTEST:
Debra L. Thomas, City Clerk
APPROVED AS TO FORM:
ichard L. Adams, II
City Attorney
2017-38 CC Reso Page 2 of 2 December 12, 2017
STATE OF CALIFORNIA )
COUNTY OF SAN BERNARDINO )
CITY OF GRAND TERRACE )
I Debra L. Thomas, City Clerk of the CITY OF GRAND TERRACE, CALIFORNIA,
DO HEREBY CERTIFY that the foregoing Resolution, being Resolution No. 2017-37
was duly passed, approved and adopted by the City Council, approved and signed by
the Mayor, and attested by the City Clerk, at the regular meeting of said City Council
held on the 12th day of December 2017, and that the same was passed and adopted by
the following vote:
AYES: Council Members Wilson, Hussey, Henderson; Mayor McNaboe
NOES: None.
ABSENT: Mayor Pro Tern Robles
ABSTAIN: None.
Executed this 13th day of December 2017, at Grand Terrace, California.
Debra L. Thomas
City Clerk
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