351.2024 Authorizing Transfer of Funds from Water Dept's Undesignated, Unassigned Fund Balance to Water Depart Cap Reserve 65 RESOLUTION AUTHORIZING TRANSFER OF FUNDS FROM WATER
DEPARTMENT'S UNDESIGNATED, UNASSIGNED FUND BALANCE TO
WATER DEPARTMENT CAPITAL RESERVE NO.: 65
RESOLUTION NO.: 351,2024
INTRODUCED BY: Mr. Michael Dixon
WHO MOVED ITS ADOPTION
SECONDED BY: Mr.Anthony Metivier
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 Board wishes to transfer $1,000,000 from the Town Water Department's
Undesignated, Unassigned Fund Balance to the Water Department's Capital Reserve No. 65 to fund
future needed capital projects and/or equipment purchases within the Water Department,
NOW, THEREFORE, BE IT
RESOLVED, that the Queensbury Town Board authorizes and directs the Town Budget
Officer to transfer $1,000,000 from the Town Water Department's Undesignated, Unassigned Fund
Balance to the Water Department's Capital Reserve No. 65 to fund future needed capital projects
and/or equipment purchases within the Water Department and make any budget amendments and/or
take all actions necessary to establish appropriations and estimated revenues and effectuate this
Resolution.
Duly adopted this 23rd day of September, 2024,by the following vote:
AYES Mr. Strough, Mr. Metivier, Mr. Dixon, Mr. McNulty
NOES None
ABSENT: None