HomeMy Public PortalAboutAB 11-078 Fund BalanceMcCALL CITY COUNCIL
AGENDA BILL
Number
Meeting Date
AB 11-78
April 28, 2011
216 East Park Street
McCall, Idaho 83638
AGENDA ITEM INFORMATION
SUBJECT:
FY10 Fund Balance
Department Approvals
Initials
Originator
Or
Supporter
Mayor / Council
City Manager
Clerk
Treasurer
i.75
Originator
Community Development
Police department
Public Works
Golf Course
COST IMPACT:
N/A
Parks and Recreation
FUNDING
SOURCE:
N/A
Airport
Library
TIMELINE:
N/A
Information Systems
Grant Coordinator
SUMMARY STATEMENT:
Each year after the annual audit, staff uses the audited financial statements and Resolution 02-04 to
calculate `surplus fund balances' for the governmental funds and `surplus cash balances' for the enterprise
funds. Those calculations have been completed for FY10. The attached memo discusses the FY10 Fund
Balance and Surplus Cash Balance calculations. Internal balances were calculated as part of the audit
process.
On July 22, 2010 the Council forgave the short-term internal balance owed by the Golf Fund to the
General Fund as of the end of FY09. Staff stated at the time that there would more than likely be an
additional short-term internal balance owed by the Golf Fund to the General Fund at the end of FY10. As
of October 1, 2010 the Golf Fund owes the General Fund a short-term internal balance of $185,851.
Forgiving the FY10 short-term internal balance will complete the process began in 2010 to formally
recognize the support the General Fund has been giving the Golf Fund over the last few years.
RECOMMENDED ACTION:
Forgive the short-term internal balance owed by Golf Fund to the General Fund
RECORD OF COUNCIL ACTION
MEETING
DATE
ACTION
04/22/2010
Forgive the short-term internal balance owed by the Golf Fund to the General
Fund, and the Wausau Judgment portion of the long-term internal balance owed
by the Sewer Fund to the General Fund