agenda city of watsonville city council/redevelopment agency meeting

CITY COUNCIL/REDEV# 6.2 (i)
RESOLUTION NO.
(CM)
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
WATSONVILLE CLASSIFYING THE VARIOUS COMPONENTS OF
FUND BALANCE AS DEFINED IN GOVERNMENTAL ACCOUNTING
STANDARDS BOARD STATEMENT NO. 54
WHEREAS, on March 11, 2009, the GOVERNMENTAL ACCOUNTING
STANDARDS BOARD (GASB) issued STATEMENT NO. 54, Fund Balance Reporting
and Governmental Fund Type Definitions; and
WHEREAS, the City Council desires to classify the various components of fund
balance reported by the City as defined in GASB STATEMENT NO. 54.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF WATSONVILLE, CALIFORNIA, AS FOLLOWS:
That the City Council hereby approves and defines, effective starting with the
2010/2011 Fiscal Year, the various components of fund balance as reported by the City,
as described and attached hereto on Exhibit “A,” and designates the Administrative
Services Director as the City official to determine and define the amounts of those
components of fund balance that are classified as “Assigned Fund Balance.”
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Reso No. (CM)
Q:\COUNCIL\2011\061411\GASB54.docx
ri 6/9/2011 5:39:29 PM
AJS ______ CJP ______ Finance ______
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