HomeMy WebLinkAboutResolution No. 11-C61RESOLUTION NO.11- C61
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF AZUSA CLASSIFYING THE
VARIOUS COMPONENTS OF FUND BALANCE AS DEFINED IN GOVERNMENTAL
ACCOUNTING STANDARDS BOARD STATEMENT NO. 54
WHEREAS, the Governmental Accounting Standards Board (GASB) issued its Statement No. 54,
Fund Balance Reporting and Governmental Fund Type Definitions.
WHEREAS, the City Council of the City of Azusa desires to classify the various components of fund
balance reported by the City as defined in Governmental Accounting Standards Board Statement No. 54.
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Azusa take the
following actions:
SECTION 1. The City Council of the City of Azusa hereby defines the various components of fund
balance as reported by the City as presented in the attached Policy (Exhibit A);
SECTION 2. The Classification and reporting of fund balance components as required by Governmental
Accounting Standards Board Statement No. 54 will become effective starting with the 2010-2011 fiscal year
financial reporting.
SECTION 3. The City Council of the City of Azusa designates the Administrative Services
Director/Chief Financial Officer as the City official to determine and define the amounts of those components of
fund balance that are classified as "Assigned Fund Balance".
SECTION 4. Authorize the Secretary to certify the adoption of this resolution.
PASSED AND APPROVED this 6`h day of September, 2011.
"
oseph R. Rocha, Mayor
I HEREBY CERTIFY that the foregoing Resolution was duly passed, approved, and adopted by the
City Council of the City of Azusa, at a regular meeting held on the 6`h day of September, 2011, by the following
vote:
AYES: COUNCIL MEMBERS: GONZALES, CARRILLO, MACIAS, HANKS, ROCHA
NOES: COUNCIL MEMBERS: NONE
ABSTAIN: COUNCIL MEMBERS: NONE
ABSENT: COUNCIL M MB�E�R)S: NONE
Candace Toscano, Deputy City Clerk