HomeMy Public PortalAbout2013-93 Resolution Committing Specific Revenue Sources for Specified PurposesMember Martinson introduced the following resolution and moved its adoption:
CITY OF MEDINA
RESOLUTION NO.2013-93
COMMITTING SPECIFIC REVENUE SOURCES FOR SPECIFIED
PURPOSES IN SPECIAL REVENUE FUNDS
WHEREAS, the City Council of the City of Medina, Minnesota, does hereby find as
follows:
WHEREAS, the Governmental Accounting Standards Board's Statement number 54 defines
special revenue funds as funds that are used to account for and report the proceeds of specific
revenue sources that are restricted or committed to expenditure for specified purposes other than
debt service or capital projects;
WHEREAS, the term proceeds of specific revenue sources establishes that one or more
specific restricted or committed revenues should be the foundation for a special revenue fund;
WHEREAS, the restricted or committed proceeds of specific revenue sources should be
expected to continue to comprise a substantial portion of the inflows reported in the fund;
WHEREAS, other resources, including investment earnings and transfers from other funds
may also be reported in the fund if those resources are restricted, committed, or assigned to the
specified purpose of the fund;
WHEREAS, investment earnings and transfers from other funds alone do not meet the
definition of a specific revenue source;
WHEREAS, Council action is required before year end to formalize the commitment of
proceeds of specific revenue sources to specified purposes.
NOW, THEREFORE, BE IT HEREBY PROCLAIMED by the City Council of the City
of Medina, Minnesota, that the specific revenue sources of each special revenue fund and the
specific purpose for which they are restricted or committed are as follows:
Committed
Cable Franchise
Cable Franchise Fees, Interest
Earnings
Cable Expenses and Local
Cable Infrastructure Buildout
Resolution No. 2013-93
December 17, 2013
Dated: December 17, 2013.
Attest:
By: j
Scott T. Johns
n, City Administrator -Clerk
B
abeth Weir, Mayor
The motion for the adoption of the foregoing resolution was duly seconded by member Pederson
and upon vote being taken thereon, the following voted in favor thereof:
Anderson, Martin, Martinson, Pederson, Weir
And the following voted against same:
None
Whereupon said resolution was declared duly passed and adopted.
Resolution No. 2013-93 2
December 17, 2013