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accrued liability is $88,718. Going forward in the second year of the OPEB liability we need to adjust the <br />designation for the change in the balance, which is $2,901. Designating the fund balance in the Severance <br />Pay Reserve Fund will show the commitment to addressing the liability. <br />For the 2010 financial statements we will be looking to implement GASB No. 54 which will affect the <br />reporting of fund balances and the classification of some of the current Special Revenue Funds. We will <br />be reviewing this new standard in an upcoming worksession. <br />Financial Impact <br />The 2009 unreserved, designated for working capital fund balance will be 47 percent of next year's <br />budgeted expenditures for the General Fund. The Severance Pay Reserve Fund balance will be <br />designated in the amount of $91,619 for OPEB liability. <br />Attachments <br />• Statement of Position -Fund Balances fox Local Governments <br />Action Motion by Second by Vote <br />Follow Up <br />