11-045 OFFICIAL RECORD
RESOLUTION NO. 11 -045
A RESOLUTION OF THE CITY OF SOUTHLAKE, TEXAS, COMMITTING
REVENUE SOURCES FOR SPECIFIC PURPOSES AND PROVIDING AN
EFFECTIVE DATE
WHEREAS, the Governmental Accounting Standards Board ( "GASB ") has adopted
Statement 54, a new standard for governmental fund balance reporting and governmental
fund type definitions that became effective in governmental years starting after June 15, 2010,
and
WHEREAS, the City Council elects to implement GASB 54 requirements, and to apply
such requirements to its financial statements beginning with the current 2011 fiscal year;
WHEREAS, the City Council has reviewed and approved the Fund Balance Policy and
has determined the ongoing revenue sources of the following should be committed for the
specific purposes;
• Police Fund - activities related to police service;
• Parks and Recreation Fund - activities related to park and recreation;
• Park Dedication Fund -park improvements;
• Storm Water Fund - maintenance, repair, and construction of storm water facilities;
• Library Donation Fund- support library activities;
• Oil and Gas Fund - activities related to oil and gas drilling;
• Public Art Fund - promotion, creation, and /or installation of public art throughout the
City;
• Reforestation Fund - ensure the natural environment is protected and preserved;
• Bicentennial Concessions Fund- Bicentennial Park maintenance, repair, and
improvements.
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
SOUTHLAKE, THAT:
Section 1. The aforementioned revenue sources are committed for the specific
purposes.
Section 2. All matters stated in the preamble of this resolution are true and correct
and are hereby incorporated into the body of this resolution as if copied in their entirety.
Section 3. The City of Southlake authorizes and directs that this action be made part
of the City's permanent records.
Section 4. This resolution shall become effective from and after the date of its
passage.
PASSED AND APPROVED THIS THE 20 DAY OF SEPTEMBER, 2011.
ATTEST: •-
John Terrell, Ma
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Alicia Richardson, City Secreta�r
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