359.2023 Authorizing Transfer of Funds from Undesignated General Fund Balance to Replenish Capital Reserve 64 RESOLUTION AUTHORIZING TRANSFER OF FUNDS FROM
UNDESIGNATED GENERAL FUND BALANCE TO REPLENISH CAPITAL
RESERVE NO. 64 AND EQUIPMENT/VEHICLE REPLACEMENT
CAPITAL PROJECT FUND NO 195
RESOLUTION NO.: 359,2023
INTRODUCED BY: Mr.Anthony Metivier
WHO MOVED ITS ADOPTION
SECONDED BY: Mr. Harrison Freer
WHEREAS, by Resolution No.: 400,2015, in order to comply with the requirements of
Governmental Accounting Standards Board Statement No. 54, Fund Balance Reporting and
Governmental Fund Definitions (GASB54), the Queensbury Town Board adopted a Fund
Balance Policy, and
WHEREAS, in accordance with such Fund Balance Policy, the Town Budget Officer has
recommended that the Town Board authorize the transfer of:
1. $1,800,000 from the Town's Undesignated, Unassigned General Fund Balance to
Capital Reserve No. 64; and
2. $200,000 from the Town's Undesignated, Unassigned General Fund Balance to
Equipment/Vehicle Replacement Capital Project Fund No. 195;
in order to fund future capital projects, and
WHEREAS,the Town Board concurs with the Town Budget Officer's recommendation,
NOW, THEREFORE, BE IT
RESOLVED, that the Queensbury Town Board authorizes and directs the Town Budget
Officer to transfer:
1. $1,800,000 from the Town's Undesignated, Unassigned General Fund Balance to
Capital Reserve No. 64; and
2. $200,000 from the Town's Undesignated, Unassigned General Fund Balance to
Equipment/Vehicle Replacement Capital Project Fund No. 195;
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 16'h day of October, 2023, by the following vote:
AYES Mr. Ferone, Mr. McNulty, Mr. Strough, Mr. Metivier, Mr. Freer
NOES None
ABSENT : None
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