2018-45 RESOLUTION NO. 2018-45
A RESOLUTION OF THE CITY' COUNCIL OF THE CITY
OF GRAND TERRACE, CALIFORNIA, COMITTING FUND
BALANCE FOR FISCAL YEARS 2018-2019 AND 2019-
2020 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 of the City of Grand Terrace 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 for Fiscal Years 2018-19 and 2019-20 as shown in the table below.
NOW, THEREFORE, . THE CITY COUNCIL OF THE CITY OF GRAND
TERRACE, CALIFORNIA, DOES HEREBY RESOLVE AS FOLLOWS:
-Section 1. The City Council hereby commits the following fund balance as
shown in the table below for fiscal years 2018-2019 and 2019-2020 in accordance with
Governmental Accounting Standards Board Statement 54 and City Reserves Policy No.
3.06: -
GENERAL FUND - Fund Balance
FY2018-19 and FY2-19-20
_ FY2018-19 FY2019-20
Nonspendable.
Prepaid Costs _ _ ��$0 $0
Deposits _� $0 $0 �
Reso No. 2018-45 Page 1 of 3 December 11, 2018
GENERAL FUND - Fund Balance
FY2018r19 and FY2-19-20
FY2018-19 FY2019-20
Restricted for:
Community Development Projects
(e.g. Parks Fund, Facilities Fund) $0 $0
Public Safety(e.g. SLESF Fund) $0 I v $0
Public Works (e.g,. Street Fund, infrastructure projects) $1,000,000 $0
I
Committed to:
Committed to Contingencies (General Fund: #10) _ $1,298,140 $1,302,954
Committed to Community Services j
Community Benefits Fund: #61 ( $16,134 $16,134
Light Up Grand Terrace Fund: #62 $162 '$162
GT Illegal Fireworks Enforcement Fund: #63 $403 ; $403
Committed to Additional Public Safety
(Public Safety Fund: #64) $0 I $0
Committed to Equipment Replacement � - '— �
(Fixed Asset Fund: #70) $988 $988
I i
Unassigned L0I ..s—o
Total Fund Balance, GENERAL FUND $2,315,827 11,320,641
Section 2. This Resolution shall take effect immediately upon the date of its
adoption.
Section 3. The City Clerk shall certify to the passage and adoption of this
Resolution.
PASSED, APPROVED AND ADOPTED by the City Council of Grand Terrace at
a regular meeting held on the 11 th day of December, 2018.
Dar y �ab�%,'Mayor
Reso No. 2018-45 Page 2 of 3 December 11, 2018
ATTEST:
Debra Thomas, City Clerk
APPROVED AS TO FORM:
Adrian R. Guerra, City Attorney.
Reso No. 2018-45 Page 3 of 3 December 11, 2018
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. 2018-45
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 11th day of November 2018, and that the same was passed and adopted by
the following vote:
AYES: Council Members Allen, Hussey, Robles; Mayor Pro Tern Wilson;
Mayor McNaboe
NOES: None.
ABSENT: None.
ABSTAIN: None.
Executed this 12t" day of November 2018, at Grand Terrace, California.
e ra L. Thomas-
City Clerk
[SEAL]