363.2014 Transfer General Fund Balance Capital Reserve 64 RESOLUTION AUTHORIZING TRANSFER OF FUNDS FROM
UNDESIGNATED GENERAL FUND BALANCE TO REPLENISH
CAPITAL RESERVE FUND #64
RESOLUTION NO.: 363,2014
INTRODUCED BY: Mr.William VanNess
WHO MOVED ITS ADOPTION
SECONDED BY: Mr. Doug Irish
WHEREAS, by Resolution No.: 322 of 2001, the Queensbury Town Board established a
Capital Reserve Fund for the purpose of capitalization of the Town's Capital Improvement Plan
Policy or for future Town project developments, known as Capital Reserve Fund #64 (Fund #64)
which Fund established fund expenditures associated with the CIP, and
WHEREAS, the Town Budget Officer has recommended that the Town Board transfer $1.2
million from the Town's undesignated, unassigned Fund Balance to Fund #64 in order to fund
future capital projects, and
WHEREAS, the Town Board therefore wishes to authorize the Town Budget Officer to
replenish Fund #64 by appropriating $1.2 million of undesignated, unassigned Fund Balance and
transfer such amount to the Capital Reserve#64,
NOW, THEREFORE, BE IT
RESOLVED, that the Queensbury Town Board authorizes and directs the Town Budget
Officer to transfer $1.2 million from the Town's undesignated, unassigned Fund Balance to the
Capital Improvement Plan Reserve Fund #64 and make any adjustments, budget amendments,
transfers or prepare any documentation necessary to establish appropriations and estimated
revenues and take all other actions necessary to effectuate the terms of this Resolution.
Duly adopted this 20th day of October, 2014, by the following vote:
AYES: Mr. Metivier, Mr. Clements, Mr. Irish, Mr. VanNess, Mr. Strough
NOES: None
ABSENT: None
2