HomeMy WebLinkAboutResolution of City CouncilCITY OF NATIONAL CITY, CALIFORNIA
COUNCIL AGENDA STATEMENT
MEETING DATE: June 21, 2011
AGENDA ITEM NO.
ITEM TITLE:
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF NATIONAL CITY CLASSIFYING THE
VARIOUS COMPONENTS OF FUND BALANCE AS DEFINED IN GOVERNMENTAL ACCOUNTING
STANDARDS BOARD STATEMENT NO. 54 AND DELEGATING TO THE CITY MANAGER THE
AUTHORITY TO DETERMINE AND DEFINE THE AMOUNTS OF THOSE COMPONENTS OF
FUND BALANCE THAT ARE CLASSIFIED AS "ASSIGNED FUND BALANCE"
PREPARED BY:I Tess Limfueco, Financial Services Officer DEPARTMENT: Finance p
PHONE: ii(619) 336-4333, APPROVED BY: p;>
EXPLANATION:
See attached explanation.
FINANCIAL STATEMENT:
ACCOUNT NO. APPROVED: MIS
Adoption of the resolution will have no financial impact and will not affect the calculation of the ending
fund balances. GASB 54 will only affect the presentation of fund balance in the financial reports.
ENVIRONMENTAL REVIEW:
NIP
ORDINANCE: INTRODUCTION:
FINAL ADOPTION:
APPROVED:
Finance
STAFF RECOMMENDATION:
Approve and adopt the resolution.
BOARD / COMMISSION RECOMMENDATION:
N/A
ATTACHMENTS:
1. Resolution