2020-15 RESOLUTION NO. 2020-15
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF GRAND
TERRACE, CALIFORNIA, COMMITTING FUND BALANCE FOR FISCAL
YEAR 2019-20 IN ACCORDANCE WITH GOVERNMENTAL
ACCOUNTING STANDARDS BOARD STATEMENT 54 AND CITY
RESERVES POLICY NO. 3.06
Recitals
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 for the City of Grand Terrace, 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 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:
1. The City Council finds that the above recitations are true and correct and,
accordingly, are incorporated as a material part of this Resolution.
2. The City Council hereby commits the following fund balance as shown in
the table below for fiscal year 2019-2020 in accordance with Governmental Accounting
Standards Board Statement 54 and City Reserves Policy No. 3.06:
CC Reso No. 2020-15 Page 1 of 3 May 26, 2020
Grand Terrace CA 92313
DAYTIME TELEPHONE NUMBER EMAIL ADDRESS
( 909 )824-6621 ext. 212 dgonzales@grandterrace-ca.gov
I have used all reasonable diligence in preparing this statement. I have reviewed this statement and to the best of my knowledge the information contained
herein and in any attached schedules is true and complete. I acknowledge this is a public document.
I certify under penalty of perjury under the laws of the State of California that the foregoing is true and correct.
Date Signed b 3- .! Signature
(month,day,year) (File the riginally ned paper element with your filing official)
FPPC Form 700-Cover Page(2019/2020)
advice@fppc.ca.gov•866-275-3772•www.fppc.ca.gov
Page-5
SECTION 12. This resolution shall take effect immediately upon adoption by the City
Council, and the City Clerk shall certify the vote adopting the resolution.
CC Reso No. 2020-17 Page 2 of 3 June 9, 2020
City of Grand Terrace
Fund Balance Designation: FY2019-20
I
Nonspendable:
Prepaid Costs $0
i Deposits $0
Restricted for:
Community Development Projects j $0
(e.g. Parks Fund, Facilities Fund)
Public Safety (e.g. SLESF Fund) $0
Public Works (e.g. Street Fund, facilities projects) $0
Infrastructure Projects i $1,966,208
Committed to:
Committed to Contingencies $646,925
Committed to Community Services
• Community Benefits Fund: #61 $850
• Light Up Grand Terrace Fund: #62 i $2,250
I T
Assigned
Assigned for continuing appropriations
(commitments, projects approved in current and $50,000
prior years that must be carried forward into the
new fiscal year)
Assigned for future debt obligations $94,000
Unassigned P)
Total Fund Balance, GENERAL FUND $2,760,233
3. If any section, subsection, sentence, clause, phrase, or portion of this
Resolution is for any reason held to be invalid or unconstitutional by the decision of any
court of competent jurisdiction, such decision shall not affect the validity of the remaining
portions of this Resolution. The City Council of the City of Grand Terrace hereby declares
that it would have adopted this Resolution and each section, subsection, sentence,
clause, phrase, or portion thereof irrespective of the fact that any one or more sections,
subsections, sentences, clauses, phrases, or portions be declared invalid or
unconstitutional.
4. The City Clerk shall certify to the adoption of this Resolution.
CC Reso No. 2020-15 Page 2 of 3 May 26, 2020
terial part of this Resolution.
2. The City Council hereby commits the following fund balance as shown in
the table below for fiscal year 2019-2020 in accordance with Governmental Accounting
Standards Board Statement 54 and City Reserves Policy No. 3.06:
CC Reso No. 2020-15 Page 1 of 3 May 26, 2020
Grand Terrace CA 92313
DAYTIME TELEPHONE NUMBER EMAIL ADDRESS
( 909 )824-6621 ext. 212 dgonzales@grandterrace-ca.gov
I have used all reasonable diligence in preparing this statement. I have reviewed this statement and to the best of my knowledge the information contained
herein and in any attached schedules is true and complete. I acknowledge this is a public document.
I certify under penalty of perjury under the laws of the State of California that the foregoing is true and correct.
Date Signed b 3- .! Signature
(month,day,year) (File the riginally ned paper element with your filing official)
FPPC Form 700-Cover Page(2019/2020)
advice@fppc.ca.gov•866-275-3772•www.fppc.ca.gov
Page-5
SECTION 12. This resolution shall take effect immediately upon adoption by the City
Council, and the City Clerk shall certify the vote adopting the resolution.
CC Reso No. 2020-17 Page 2 of 3 June 9, 2020
5. This Resolution shall take effect immediately upon its adoption.
PASSED, APPROVED AND ADOPTED by the City Council of the City of Grand
Terrace at a regular meeting held on the 26th day of May 2020.
Vt'•DIP
ar
Mayor
ATTEST:
- Debra_I homas
City Clerk
APPROVED AS TO FORM:
4L. /e ,
Adrian R. Guerra
City Attorney
CC Reso No. 2020-15 Page 3 of 3 May 26, 2020
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 10th day of June 2020, at Grand Terrace, California.
gebra L. Thomas::_ =�
City Clerk
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. 2020-15
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 26th day of May 2020, 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 27th day of May 2020, at Grand Terrace, California.
Debra L. homas
City Clerk — -
ty Clerk