4.5. SR 02-14-2011 - Laserfiche WebLink

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• RESOLUTION 10-,yp._ A RESOLUTION OF THE CITY OF ELK RIVER A 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 commnitted 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 Ciry Council of the City of Elk River that effective November 15, 2010 the specific revenue source of each special revenue fund and the specific purposes for which they axe committed axe as follows: ` ~ ~ „*" , Ci~I~tn a F'aud , . Sowttes $ e3ftz~ ~ ~+r~7 t , a s~ Lbrary Tax levy Lbrary maintenance and unprovements Ice arena Charges for services Ice arena operations, maintenance and miprovements Pinewood golfcourse Charges for services Golfcourse operators, maintenance and intprovements Senior crt¢ens Activ¢y fees, donations Senior cRrzen activities and programs Micro ban Loan payments Financing for economic devebpment projects Devebpment Fund Tax levy, development fees Corrurtitted to promote economic devebpment activities Insurance reserve Insurance dividend Insurance deductbles, litigation costs and safe ro am u