HomeMy Public PortalAbout2015_02_10_R025 Assigning Unassigned GF Balance The Town of
Leesburg,
Virginia PRESENTED February 10,2015
RESOLUTION NO. 2015-025 ADOPTED February 10, 2015
A RESOLUTION: ASSIGNING GENERAL FUND UNASSIGNED FUND BALANCE IN
THE AMOUNT OF $3,682,242 FOR CAPITAL ASSET REPLACEMENT
FUND AND ACCUMULATING FUNDS FOR DEBT SERVICE
RESERVE
WHEREAS,the Town Council passed Resolution 2010-072 establishing the Capital Asset
Replacement Reserve for the routine replacement, renovation, and repair of General Fund facilities
and equipment; and Resolution 2012-029 establishing the Debt Service Reserve to accumulate
funds to defray annual debt service payments beginning in Fiscal Year 2017; and
WHEREAS, the Town's Long Term Sustainability Plan designated amounts for the
funding the Capital Asset Replacement Fund and Debt Service Reserve with the finalization of the
Town's Fiscal Year 2014 Comprehensive Annual Financial Report(CAFR); and
WHEREAS,the estimated unassigned fund balance in support of this action is $3,682,242.
THEREFORE, RESOLVED, by the Council of the Town of Leesburg in Virginia that the
effective February 10, 2015 the sum of$3,682,242 is assigned from the General Fund Unassigned
Fund Balance to the Capital Asset Replacement Fund and the Debt Service Reserve.
PASSED this 10th day of February, 2015.
Krim''. Um attd, Mayor
Town of Leesburg
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Li 11.4
Clerk of Co ; ; il
P:\Resolutions\2015\0210 Assigning FY14 GF Unassigned Fund Balance.doc