HomeMy Public PortalAbout2011.006 - LPFA (06-21-11) RESOLUTION NO. 2011.006
A RESOLUTION OF THE LYNWOOD PUBLIC FINANCE AUTHORITY CLASSIFYING
THE VARIOUS COMPONENTS OF THE FUND BALANCE AS DEFINED IN
GOVERNMENTAL ACCOUNTING STANDARD BOARDS STATEMENT NUMBER 54
WHEREAS, the Governmental Accounting Standard Board (GASB) has issued
its Statement No. 54, entitled "Fund Balance Reporting and Governmental Fund Type
Definitions"; and
WHEREAS, the City of Lynwood desires to classify the various components of
fund balance as defined in Governmental Accounting Standards Board Statement No.
54.
NOW, THEREFORE, THE LYNWOOD PUBLIC FINANCE AUTHORITY OF
THE CITY OF LYNWOOD DOES HEREBY RESOLVE AND DETERMINE AS
FOLLOWS:
Section 1. The Lynwood Public Finance Authority approves and defines the
various components of fund balance as reported by the City as presented on
Attachment 1 to this Resolution.
Section 2. The classification and reporting of fund balance components as
required by Governmental Accounting Standards Board Statement No. 54 shall become
effective starting with FY 2010-2011.
Section 3. The Lynwood Public Finance Authority of the City of Lynwood
designates the City Manager or his designee to determine and define the amounts of
those components of fund balance that are classified as "Assigned Fund Balance".
Section 4. The policy shall remain in effect until further amended.
PASSED APPROVED and ADOPTED this 21 day of June, 2011.
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Ai e Castro, Chair
ATTEST: APPROVED AS TO CONTENT:
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Maria Quinonez, Se retary Roger L. aley, xecutive Director
APPROVED AS TO FORM:
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Fred Galante, Agency Counsel Robert S. Torrez, i nt City
Manager
STATE OF CALIFORNIA )
)SS.
COUNTY OF LOS ANGELES )
I, the undersigned, Secretary of Lynwood Public Finance Authority, do hereby certify
that the foregoing Resolution was passed and adopted by the Agency at its regular
meeting held on the 21 day of June, 2011.
AYES: MEMBERS FLORES, RODRIGUEZ, SANTILLAN, MORTON AND
CASTRO
NOES: NONE
ABSENT: NONE
ABSTAIN: NONE
i
Maria Quinonez, ecretary
STATE OF CALIFORNIA )
)SS.
COUNTY OF LOS ANGELES )
I, the undersigned, Secretary of the Lynwood Public Finance Authority, do hereby certify
that the above foregoing is a full, true and correct copy of Resolution No. 2011.006 on
file in my office and that said Resolution was adopted on the date and by the vote
therein stated. Dated this 21 day of June, 2011.
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aria Quinonez, ecretary