HomeMy WebLinkAboutResolution No. 558-11 x�
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A RESOLUTION OF THE CITY OF ROCHESTER, MINNESOTA
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
specific 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 committed 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 sources; and,
WHEREAS, Council action is required to formalize the commitment of the specific
revenue sources to specified purposes.
is NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of
Rochester that, effective December 31, 2011 and retrocatively, the specific revenue source of
each special revenue fund and the specific purposes for which they are committed are as
follows:
Fund Specific Revenue Source Committed For
Library Tax Levy, Library Fees, Fines, Library Operation, Maintenance,
and Transfers and Improvements
Municipal Recreation Tax Levy, Recreation Fees Recreation Programs
F.E. Williams Estate Donations, Fees Recreation Improvements
Airport Operations Tax Levy, Airport Fees, Rents, Airport Operations,
and lease payments Maintenance, and
Improvements
Transit Tax Levy, Transit Fees, Rents, Transit Operation, Maintenance,
and lease payments and Improvements
Minnesota Bio Science Center Rents, CAM charges, and Bio Science Center Operation,
Lease Payments I Maintenance and Improvements
Community Development Tax Levy, Grant Funding, ICommunity Development
Projects Transfers I Projects, Administration Cost
• PASSED AND ADOPTED BY THE COMMON COUNCIL OF THE CITY OF
ROCHESTER, MINNESOTA, THIS / D F ZLrCQ"a*L- �, 2 11.
PIRESIDENT OF SAID COMMON COUNCIL
ATTEST: 6liale4"l�-hni-
CITY CLERK
APPROVED THIS .90 DAY OF 2011.
MAYOR OF SAID CITY
(Seal of the City of
Rochester, Minnesota)
Rest Mesolu.CommitRevSource
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