2022-36 RESOLUTION NO. 2022-36
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF GRAND
TERRACE, CALIFORNIA, COMMITTING FUND BALANCE FOR FISCAL
YEAR 2021-22 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 2021-22 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 2021-2022 in accordance with Governmental Accounting
Standards Board Statement 54 and City Reserves Policy No. 3.06:
CC Reso No. 2022-36 Page 1 of 3 June 28, 2022
City of Grand Terrace
Fund Balance Designation: FY2021-22
Nonspendable:
Prepaid Costs $0
Land Held for Resale $665,000
Restricted for:
Community Development Projects $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 $1,092,979
Committed to:
Committed to Contingencies $1,046,078
Committed to Community Services
Community Benefits Fund: #61 $1,680
Light Up Grand Terrace Fund: #62 $920
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 753 867
Total Fund Balance, GENERAL FUND $3,704, 224
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.
CC Reso No. 2022-36 Page 2 of 3 June 28, 2022
4. The City Clerk shall certify to the adoption of this Resolution.
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 28th day of June, 2022.
Dar Mcke e
Mayor
ATTEST:
Debra Thomas
City Clerk_
APPROVED AS TO FORM:
Adrian R. Guerra
City Attorney
CC Reso No. 2022-36 Page 3 of 3 June 28, 2022
I
i
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. 2022-36
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 28th day of June 2022, and that the same was passed;and adopted by the
following vote:
AYES: Council Members Allen, Robles; Mayor Pro Tern Hussey; Mayor
McNaboe
NOES: None.
ABSENT: Council Member Wilson
ABSTAIN: None.
Executed this 29th day of June 2022, at Grand Terrace, California.
ke ib�r-a L. Thomas
City Clerk
i