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Home My WebLink AboutReso 86-2011 RESOLUTION NO. 86 -2011 CITY COUNCIL, CITY OF SOUTH SAN FRANCISCO, STATE OF CALIFORNIA A RESOLUTION CONFIRMING FUND BALANCE CATEGORIZATIONS TO COMPLY WITH NEW GOVERNMENTAL ACCOUNTING STANDARDS BOARD (GASB) STATEMENT NO. 54 WHEREAS, the City of South San Francisco ( "City ") is required to follow Generally Accepted Accounting Principles ( "GAAP ") and Governmental Accounting Standards Board ( "GASB ") requirements in reporting its financial activities; and WHEREAS, by complying with the GAAP and GASB Statements, the City has provided clearer financial reporting to the City's decision makers and interested parties; and WHEREAS, GASB Statement 54 requires that the City Council confirm various fund balance categories for governmental funds prior to June 30, 2011; and WHEREAS, authority for assigning fund balances that are not restricted or committed, as defined by GASB, needs to be delegated by the City Council. NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of South San Francisco that the City Council hereby confirms the fund balance categories as shown in Exhibit 1, "Recommended Governmental Funds Categorization Matrix "; and BE IT FURTHER RESOLVED that the City Council of the City of South San Francisco hereby delegates authority to the Finance Director to assign fund balances which are not otherwise restricted or committed as shown on Exhibit 1; and BE IT FURTHER RESOLVED, by the City Council of the City of South San Francisco that the City's policy shall be when expenditures are incurred for projects or programs with multiple funding sources, funds will be used in the following priority order: Restricted first, then Committed, Assigned, and Unassigned last. * * I hereby certify that the foregoing Resolution was regularly introduced and adopted by the City Council of the City of South San Francisco at a regular meeting held on the 22 day of June 2011 by the following vote: AYES: Councilmembers Mark Addiego and Pedro Gonzalez, Vice Mayor Richard A. Garbarino and Mayor Kevin Mullin NOES: None ABSTAIN: None ABSENT: Councilmember Karyl Matsumoto ATTES' : T_, _-. it,�erk Exhibit 1 Recommended Governmental Funds Categorization Matrix Fund Fund Title Account Account Title (old) New Designation 210 GAS TAX SPECIAL REVENUE FUND 27001 FUND BALANCE Restricted 211 MEASURE A SPECIAL REVENUE FUND 27001 FUND BALANCE Restricted 221 FEDERAL AVIATION GRANTS CAPITAL 27001 FUND BALANCE Restricted PROJECTS FUND 222 COMMUNITY DEVELOPMENT GRANT 27001 FUND BALANCE Restricted SPECIAL REVENUE FUND 223 MISC. FEDERAL GRANTS SPECIAL 27001 FUND BALANCE Restricted REVENUE FUND 23x COMMON GREENS SPECIAL REVENUE 27001 FUND BALANCE Restricted FUND 260 SUPPLEMENTAL LAW ENFORCEMENT 27001 FUND BALANCE Restricted GRANT SPECIAL REVENUE FUND 270 DEVELOPER FUNDED PLANNING AND 27001 FUND BALANCE Restricted ENGINEERING COSTS SPECIAL REVENUE FUND 270 DEVELOPER FUNDED PLANNING AND 27444 DES FOR DVLP FUNDED ENGINEER Restricted ENGINEERING COSTS SPECIAL REVENUE FUND 280 DEPARTMENTAL DONATIONS SPECIAL 27001 FUND BALANCE Restricted REVENUE FUND 280 DEPARTMENTAL DONATIONS SPECIAL 27422 DESIG PUBLIC ACCESS TELECOMMUNICATIONS Restricted REVENUE FUND 460 RDA DEBT SERVICE FUND 27001 FUND BALANCE Restricted 460 RDA DEBT SERVICE FUND 27203 CAPITAL RESERVE Restricted 601 -63X MERGED RDA CAPITAL PROJECTS FUND 27001 FUND BALANCE Restricted 601 -63X MERGED RDA CAPITAL PROJECTS FUND 27210 RESERVED FOR RESTRICTED ASSETS Restricted 810 -840 IMPACT FEE CAPITAL PROJECTS FUNDS 27001 FUND BALANCE Restricted 730 SEWER CAPACITY FEE CAPITAL 27001 FUND BALANCE Committed PROJECTS FUND The following four Reseves will need to be recommitted through a formal Reserves Policy in the near future: 1XX GENERAL FUND -Info only 27001 UNDESIGNATED RESERVE Unassigned 1XX GENERAL FUND -Info only 27301 DES FOR ECONOMIC CONTINGENCIES Unassigned 1XX GENERAL FUND -Info only 27302 DES FOR POTENTIAL CATASTROPHE Unassigned 1XX GENERAL FUND -Info only 27303 DES FOR FUTURE ECON DEV & CAP Unassigned 1XX GENERAL FUND 27304 DES FOR CURRENT CAPITAL PROD, Committed 1XX GENERAL FUND 27311 DES FOR GENENTECH REFUND Committed 203 PARK IN LIEU DEDICATION FEES SPECIAL 27217 PARK DED FEES ZONE I Committed REVENUE FUND 203 PARK IN LIEU DEDICATION FEES SPECIAL 27218 PARK DED FEES ZONE II Committed REVENUE FUND 203 PARK IN LIEU DEDICATION FEES SPECIAL 27220 PARK DED FEES ZONE IV Committed REVENUE FUND 203 PARK IN LIEU DEDICATION FEES SPECIAL 27304 DES FOR CURRENT CAPITAL PROD, Committed REVENUE FUND 205 AFFORDALBE HOUSING SPECIAL 27427 OAK FARMS PAYMENT Committed REVENUE FUND 205 AFFORDALBE HOUSING SPECIAL 27431 CITY LIGHTS HOUSING PAYMENT Committed REVENUE FUND 205 AFFORDALBE HOUSING SPECIAL 27437 SUMMERHILL - PARK STATION HOUSING Committed REVENUE FUND PAYMENT 205 AFFORDALBE HOUSING SPECIAL 27438 MYERS - 418 LINDEN HOUSING PAYMENT Committed REVENUE FUND 210 GAS TAX SPECIAL REVENUE FUND 27304 DES FOR CURRENT CAPITAL PROD, Committed 211 MEASURE A SPECIAL REVENUE FUND 27304 DES FOR CURRENT CAPITAL PROJ. Committed '23x COMMON GREENS SPECIAL REVENUE 27304 DES FOR CURRENT CAPITAL PROJ. Committed FUND .250 SOLID WASTE REDUCTION SPECIAL 27001 FUND BALANCE Committed REVENUE FUND -1- Exhibit I Recommended Governmental Funds Categorization Matrix Fund Fund Title Account Account Title (old) New Designation 250 SOLID WASTE REDUCTION SPECIAL 27304 DES FOR CURRENT CAPITAL PROJ. Committed REVENUE FUND 270 DEVELOPER FUNDED PLANNING AND 27445 DES FOR PERMIT PROGRAM MAINT Committed ENGINEERING COSTS SPECIAL REVENUE FUND 270 DEVELOPER FUNDED PLANNING AND 27446 DES FOR GENERAL PLAN MAINT Committed ENGINEERING COSTS SPECIAL REVENUE FUND 521 PUBLIC IMPROVEMENTS AGREEMENT 27001 FUND BALANCE Committed CAPITAL PROJECTS FUND 521 PUBLIC IMPROVEMENTS AGREEMENT 27311 DES FOR GENENTECH REFUND Committed SPECIAL REVENUE FUND 521 PUBLIC IMPROVEMENTS AGREEMENT 27452 DES FOR FUTURE LOAN COMMITMENTS Committed SPECIAL REVENUE FUND 601 -63X MERGED RDA CAPITAL PROJECTS FUND 27211 RES.- FUTURE LOAN OBLIGATIONS Committed 601 -63X MERGED RDA CAPITAL PROJECTS FUND 27304 DES FOR CURRENT CAPITAL PROJ. Committed 601 -63X MERGED RDA CAPITAL PROJECTS FUND 27311 DES FOR GENENTECH REFUND Committed 601 -63X MERGED RDA CAPITAL PROJECTS FUND 27452 DES FOR FUTURE LOAN COMMITMENTS Committed 810 -840 IMPACT FEE CAPITAL PROJECTS FUNDS 27304 DES FOR CURRENT CAPITAL PROJECTS Committed 810 -840 IMPACT FEE CAPITAL PROJECTS FUNDS 27435 TERRABAY CHILDCARE IN LIEU DESIGNATION Committed 1XX GENERAL FUND 27202 RESERVE FOR ENCUMBRANCE Assigned 202 COMMUNITY EVENTS DONATIONS 27440 DAY IN THE PARK/COMMUNITY EVENTS Assigned SPECIAL REVENUE FUND 205 AFFORDALBE HOUSING SPECIAL 27001 FUND BALANCE Assigned REVENUE FUND 221 FEDERAL AVIATION GRANTS SPECIAL 27202 RESERVE FOR ENCUMBRANCE Assigned REVENUE FUND 222 COMMUNITY DEVELOPMENT GRANT 27202 RESERVE FOR ENCUMBRANCE Assigned SPECIAL REVENUE FUND 223 MISC. FEDERAL GRANTS SPECIAL 27202 RESERVE FOR ENCUMBRANCE Assigned REVENUE FUND 23x COMMON GREENS SPECIAL REVENUE 27202 RESERVE FOR ENCUMBRANCE Assigned FUND 250 SOLID WASTE REDUCTION SPECIAL 27202 RESERVE FOR ENCUMBRANCE Assigned REVENUE FUND 270 DEVELOPER FUNDED PLANNING AND 27202 RESERVE FOR ENCUMBRANCE Assigned ENGINEERING COSTS SPECIAL REVENUE FUND 280 DEPARTMENTAL DONATIONS SPECIAL 27417 LENORE VARNI MEMORIAL TRUST Assigned 280 DEPARTMENTAL DONATIONS SPECIAL 27424 MORALES FAMILY FUND Assigned REVENUE FUND 280 DEPARTMENTAL DONATIONS SPECIAL 27425 ELINOR FIGONI TRUST - LIBRARY Assigned REVENUE FUND 280 DEPARTMENTAL DONATIONS SPECIAL 27202 RESERVE FOR ENCUMBRANCE Assigned REVENUE FUND 280 DEPARTMENTAL DONATIONS SPECIAL 27401 CENTENNIAL WAY IMPROVEMENTS Assigned ' REVENUE FUND 280 DEPARTMENTAL DONATIONS SPECIAL 27402 DONATION SENIOR CENTER Assigned REVENUE FUND 280 DEPARTMENTAL DONATIONS SPECIAL 27403 TICKET SALES Assigned REVENUE FUND 280 DEPARTMENTAL DONATIONS SPECIAL 27404 MEMORIAL GROVE TREE PLANTING Assigned REVENUE FUND 280 DEPARTMENTAL DONATIONS SPECIAL 27405 DONATIONS RECREATION & COMMUNITY Assigned REVENUE FUND 280 DEPARTMENTAL DONATIONS SPECIAL 27406 LIBRARY COPY MACHINE REPLACEMENT Assigned REVENUE FUND -2- Exhibit I Recommended Governmental Funds Categorization Matrix Fund Fund Title Account Account Title (old) New Designation 280 DEPARTMENTAL DONATIONS SPECIAL 27407 GREENHOUSE KIWANAS TREES Assigned REVENUE FUND 280 DEPARTMENTAL DONATIONS SPECIAL 27408 DONATIONS - LIBRARY Assigned REVENUE FUND 280 DEPARTMENTAL DONATIONS SPECIAL 27409 DONATIONS - PROJECT READ Assigned REVENUE FUND 280 DEPARTMENTAL DONATIONS SPECIAL 27410 DONATIONS - FIRE Assigned REVENUE FUND 280 DEPARTMENTAL DONATIONS SPECIAL 27411 NARCOTICS TASK FORCE Assigned REVENUE FUND 280 DEPARTMENTAL DONATIONS SPECIAL 27414 CULTURAL ARTS Assigned REVENUE FUND 280 DEPARTMENTAL DONATIONS SPECIAL 27415 DARE - POLICE HISTORY BOOK Assigned REVENUE FUND 280 DEPARTMENTAL DONATIONS SPECIAL 27416 GREAT - PROGRAM Assigned REVENUE FUND 280 DEPARTMENTAL DONATIONS SPECIAL 27418 DESIGNATED FOR SEISMIC TRAINING Assigned REVENUE FUND 280 DEPARTMENTAL DONATIONS SPECIAL 27419 POLICE NEAT PROGRAM Assigned REVENUE FUND 280 DEPARTMENTAL DONATIONS SPECIAL 27423 DONATIONS - LEARNING CENTER Assigned REVENUE FUND 280 DEPARTMENTAL DONATIONS SPECIAL 27426 DESIGNATED FOR PARAMEDIC EQUIPMENT Assigned REVENUE FUND 280 DEPARTMENTAL DONATIONS SPECIAL 27428 DESIGNATED FOR PUBLIC ART Assigned REVENUE FUND 280 DEPARTMENTAL DONATIONS SPECIAL 27429 DESIGNATED FOR BIKE COMMUTER PROGRAM Assigned REVENUE FUND 280 DEPARTMENTAL DONATIONS SPECIAL 27430 DONATIONS - ECHO COMPANY Assigned REVENUE FUND 280 DEPARTMENTAL DONATIONS SPECIAL 27432 COMMUNITY OUTREACH PROGRAM Assigned REVENUE FUND 280 DEPARTMENTAL DONATIONS SPECIAL 27434 CHILDCARE DONATIONS Assigned REVENUE FUND 280 DEPARTMENTAL DONATIONS SPECIAL 27436 SCHOLARSHIP FUND Assigned REVENUE FUND 280 DEPARTMENTAL DONATIONS SPECIAL 27449 POLICE DONATION STATE FARM Assigned REVENUE FUND 280 DEPARTMENTAL DONATIONS SPECIAL 27451 DES FOR TERRABAY RECREATION Assigned REVENUE FUND 280 DEPARTMENTAL DONATIONS SPECIAL 27453 POLICE EVIDENCE REVOLVING Assigned REVENUE FUND 280 DEPARTMENTAL DONATIONS SPECIAL 27454 PROPOSITION 12 RESIDUAL FUNDING Assigned REVENUE FUND 510 CITY GENERAL CAPITAL IMPROVEMENTS 27001 FUND BALANCE Assigned 510 CITY GENERAL CAPITAL IMPROVEMENTS 27202 RESERVE FOR ENCUMBRANCE Assigned FUND 521 PUBLIC IMPROVEMENTS AGREEMENT 27202 RESERVE FOR ENCUMBRANCE Assigned CAPITAL PROJECTS FUND 521 PUBLIC IMPROVEMENTS AGREEMENT 27304 DES FOR CURRENT CAPITAL PROJ. Assigned 601 -63X MERGED RDA CAPITAL PROJECTS FUND 27202 RESERVE FOR ENCUMBRANCE Assigned 810 -840 IMPACT FEE CAPITAL PROJECTS FUNDS 27202 RESERVE FOR ENCUMBRANCE Assigned -3-