City Council Resolution 2011-84CITY OF MONTICELLO
WRIGHT COUNTY, MINNESOTA
RESOLUTION NO. 2011-84
COMMITTING THE FUND BALANCE OF MONTICELLO COMMUNITY CENTER
AND DEPUTY REGISTRAR (DEPARTMENT OF MOTOR VEHICLE) FUNDS
WHEREAS, the Governmental Standards Board (GASB) has issued GASB Statement No. 54,
Fund Balance Reporting and Governmental Fund Type Definitions, in which to be classified as a
Special Revenue Fund the fund balances must be classified as at least Committed; and
WHEREAS, the City operates the Monticello Community Center Fund and Deputy Registrar
(Department Of Motor Vehicle) Fund as special revenue funds;
NOW, THEREFORE, BE IT RESOLVED that the fund balance of the Monticello Community
Center Fund will be committed for the purpose of operating and maintaining the Community
Center, including all debt service payments and asset replacement according to the City's reserve
Policy; and
BE IT FURTHER RESOLVED, that the Deputy Registrar (Department Of Motor Vehicle) fund
balance will be committed for the purpose of operating and maintaining the Department of Motor
Vehicle office including all debt service payments and asset replacement according to the City's
reserve Policy.
ADOPTED BY the Monticello City Council this 12th day of September, 2011.
CITY OF MONTICELLO
2.Z,1�,-1
Clint Herbst, Mayor
ATTEST:
J .-001 1, City Administrator