310.2024 Authorizing Transfer of Funds from Undesignated General Fund Balance to Replenish Capital Reserve No 64 RESOLUTION AUTHORIZING TRANSFER OF FUNDS FROM
UNDESIGNATED GENERAL FUND BALANCE TO REPLENISH
CAPITAL RESERVE NO.: 64
RESOLUTION NO.: 310, 2024
INTRODUCED BY: Mr. Anthony Metivier
WHO MOVED ITS ADOPTION
SECONDED BY: Mr. Timothy McNulty
WHEREAS, by Resolution No.: 400,2015, the Queensbury Town Board adopted a Fund
Balance Policy to comply with the requirements of Governmental Accounting Standards Board
Statement No. 54, Fund Balance Reporting and Governmental Fund Definitions (GASB54) and
accordingly the Town Budget Officer has recommended a transfer of$2,500,000 from the Town's
undesignated, unassigned General Fund's Fund Balance to Capital Reserve No. 64 to fund future
needed capital projects and/or equipment purchases within Town Departments including the Building
and Grounds, Cemetery, Highway and/or Parks and Recreation Departments and the Town Board
concurs with this recommendation,
NOW, THEREFORE, BE IT
RESOLVED, that the Queensbury Town Board authorizes and directs the Town Budget
Officer to transfer$2,500,000 from the Town's General Fund undesignated,unassigned Fund Balance
to Capital Reserve No. 64 to fund future capital projects and equipment purchases needed within
certain Town Departments including the Building and Grounds, Cemetery, Highway and/or Parks
and Recreation Departments and make any budget amendments and/or prepare any documentation
necessary to establish appropriations and estimated revenues and take all actions necessary to
effectuate this Resolution.
Duly adopted this 19t'day of August, 2024, by the following vote:
AYES Mr. Metivier, Mr. Dixon, Mr. McNulty, Mr. Strough
NOES None
ABSENT: None