#682 08-06-74 Establish Joint Programs Fund322
Resolution No. 682 August 6, 1974
Member Hoover introduced the following resolution and MOVED its adoption:
RESOLUTION ESTABLISHING
JOINT PROGRAMS FUND
WHEREAS, under provisions of Minnesota Statutes, the City Council is
empowered to establish such funds as are necessary for the recording of revenues
and expenditures to properly reflect the financial condition of the City and
account for its monies, and,
WHEREAS, a conflict exists between the statutory fiscal year established
for cities and that followed by the State and Federal Governments to wit:
January 1 for cities and July 1 for State and Federal, and,
WHEREAS, this conflict creates difficulty in property preparing City
budgets based upon its own fiscal year as required by statutes due to the over-
lapping periods of time,
NOW THEREFORE, BE IT RESOLVED that the City Council of the City of
Golden Valley does hereby direct the establishment of a special revenue fund
effective immediately to be known as the "Joint Programs Fund" which shall be
for the purpose of accounting for those programs established in co-operation
with the State of Minnesota or the Government of the United States which
operate on a fiscal year basis other than January 1st, and,
BE IT FURTHER RESOLVED that the Joint Programs Fund may be credited
with the City's share of such co-operative programs as from time to time may
be established and in the amounts appropriated by the Council together with
the Federal and State share thereof and that the fund shall be charged with
all costs attributable to such programs and,
BE IT FURTHER RESOLVED that, due to the aforementioned conflict in
fiscal periods, programs in the Joint Programs Fund shall continue over the
life of those programs as specified in the joint agreement and without regard
to the annual budget year of the city.
Mayor
Attest:
City Clerk
The motion for the adoption of the foregoing resolution was duly seconded by
Member Anderson and upon vote being taken thereon, the following members voted
in favor thereof: Anderson, Bix, Hoover, Moberg, and Riggs; and the following
voted against the same: None, whereupon said resolution was declared duly
passed and adopted, signed by the Mayor and his signature attested by the
Clerk.