HomeMy WebLinkAboutCC Res 6149 2011-06-27RESOLUTION NUMBER 6149
A RESOLUTION OF THE SEAL BEACH CITY COUNCIL
ADOPTING A FUND BALANCE POLICY AND AUTHORIZING
THE CITY MANAGER AND /OR THE ADMINISTRATIVE
SERVICES DIRECTOR TO ASSIGN FUND BALANCE TO A
SPECIFIC PURPOSE IN RELATION TO THIS FUND BALANCE
POLICY
WHEREAS, The Governmental Accounting Standards Board (GASB) is the rule
making body for governmental accounting; and
WHEREAS, GASB, seeking to enhance the usefulness of fund balance
information by providing clearer fund balance classifications that can be more
consistently applied and by clarifying the existing governmental fund type
definitions, has issued its Statement No. 54, Fund Balance Reporting and
Governmental Fund Type Definitions, effective for reporting periods beginning
after June 15, 2010;
THE SEAL BEACH CITY COUNCIL DOES HEREBY RESOLVE:
Section 1. The Fund Balance Policy attached hereto as Exhibit "A" is hereby
approved by the City Council of the City of Seal Beach, California; and
Section 2. The City Manager and /or Administrative Services Director are each
hereby authorized and empowered, for and on behalf of the City to assign fund
balance to a specific purpose in accordance with and in relation to the City's
Fund Balance Policy, attached hereto.
PASSED, APPROVED and ADOPTED by the Seal Beach City Council at a
regular meeting held on the 27th day of June , 2011 by the following vote:
/N A - - ' A
AYES: Council Members
.J
STATE OF CALIFORNIA }
COUNTY OF ORANGE } SS
CITY OF SEAL BEACH }
I, Linda Devine, City Clerk of the City of Seal Beach, do hereby certify that the
foregoing resolution is the original copy of Resolution Number 6149 on file in
the office of the City Clerk, passed, approved, and adopted by the City Council at
a regular meeting held on the 27th day of June , 2011.
ityl Clerk
NOES: Council Members
ABSENT: Council Members c