HomeMy WebLinkAbout10-154 - ADMIN Resolution - City Council - 2010/12/20RESOLUTION NO. 10-154
RESOLUTION COMMITTING SPECIFIC REVENUE SOURCES
IN SPECIAL REVENUE FUNDS
WHEREAS, the Governmental Accounting Standards Board's Statement #54 definition
of special revenue funds states that special revenue funds are used to account for and report the
proceeds of specific revenue sources that are restricted or committed to expenditures for
specified purposes other than debt service or capital projects; and,
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 and comprise a substantial portion of the fund's revenues; and,
WHEREAS, investment earnings and transfers from other funds do not meet the
definition of a specific revenue source; and,
WHEREAS, council action is required to formalize the commitment of the specific
revenue sources to specified purposes.
NOW, THEREFORE BE IT RESOLVED by the City Council of the City of St. Louis
Park that effective December 31, 2010, the specific revenue source of each special revenue fund
and the specific purposes for which they are committed are as follows:
Fund
Specific Revenue Sources
Committed For
Park and Recreation
Tax Levy
Recreation Programs
Park and Recreation
Charges for Services
Recreation Programs
Housing Rehab
Private Activity Revenue Bond Fees
Continued Investment in Housing
Cable TV
Cable franchise Fees
Cable TV Programming
Specice Distncts
Special Assessments
Special Service Distnct Operations
Review
fo Administration:
Adopte
e City Council December 20, 2010
City Manage
Attest:
---Y7 b
City Clerk
Mayor