20-26 - 04-21 - Assign General Fund BalanceRESOLUTION NO. 20-26
RESOLUTION ASSIGNING 2019 GENERAL FUND BALANCE FOR
COVID-19 EXPENDITURES
WHEREAS, the 2019 Budget was adopted on December 4, 2018 with Resolution
18-78, and amended on April 1 with Resolution 19-23, August 20, 2019 with Resolution 19-
45, November 19 with Resolution 19-61, December 17 with Resolution 19-77; and
WHEREAS, in 2011, Resolution 11-83 Adopting Fund Balance Year-End
Classifications Policy in Accordance with Governmental Accounting Standards Board
(GASB) 54 that allows Commitments of Fund Balance to be assigned for specific purposes
determined by formal action before year end; and
WHEREAS, in 2019, unassigned fund balance was $1,350,000.
BE IT RESOLVED by the City Council of the City of Golden Valley, Minnesota, that
following assignments will carry forward to 2020:
Division
FUND BALANCE ($1,350,000)
ASSIGNED FUND BALANCE $1,350,000
NOW THEREFORE BE IT RESOLVED by the City Council of the City of Golden
Valley, Minnesota, that the Assigned General Fund Balance for the 2019 General Fund
Budget is hereby given final approval.
Adopted by the City Council of Golden Valley, Minnesota this 21st day of April, 2020.
_____________________________
Shepard M. Harris, Mayor
ATTEST:
_____________________________
Kristine A. Luedke, City Clerk
DocuSign Envelope ID: 025468AE-3E23-4C8D-ADB7-36D2571FFD95