2011-071 Commit Revenues and Fund BalancesCITY OF HOPKINS
Hennepin County, Minnesota
RESOLUTION NO. 2011-071
A RESOLUTION COMMITTING REVENUES AND FUND BALANCES
IN ACCORDANCE WITH GASB 54
WHEREAS, the Governmental Accounting Standards Board (GASB) has adopted Statement 54
(GASB 54), a new standard for governmental fund balance reporting and governmental fund
type definitions that became effective in governmental fiscal years starting after June 15,
2010, and
WHEREAS, the City Council of the City of Hopkins elects to implement GASB 54 requirements,
and to apply such requirements to its financial statements beginning with the current
(January 1, - December 31, 2011) fiscal year; and
WHEREAS, GASB 54 requires the governing body to formalize the commitment of the specific
revenue sources to specified purposes.
NOW THEREFORE BE IT RESOLVED, by the Hopkins City Council that effective December 31,
2011, the specific revenue source of each special revenue fund and the specific purposes for
which they are committed are as follows:
Fund
Economic Development
Real Estate Purchases
Parking
Communications
Depot Coffee House
Art Center
Specific�Revenue Source
Tax Levy
Permits
Charges for Service
Fees, Licenses, and Permits
Charges for Service
Charges for Service
Committed For
Economic Development
Economic Development
Parking Operations
Communication Operations
Depot Coffee House Operations
Hopkins Center for the Arts
AND BE IT FURTHER RESOLVED, that any unrestricted fund balance in any special revenue
fund is committed by the council to the specific purpose of that fund.
Adopted by the City Council of the City of Hopkins this 20th day of December 2011.
By
Eugen axwell, Mayor
ATTEST:
Kristine A. Luedke, City Clerk