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400.2015 Fund Balance GASB NO. 54 RESOLUTION AUTHORIZING ADOPTION OF FUND BALANCE POLICY IN ACCORDANCE WITH GASB STATEMENT NO. 54 RESOLUTION NO.: 400, 2015 INTRODUCED BY: Mr. Anthony Metivier WHO MOVED ITS ADOPTION SECONDED BY: Mr. Brian Clements WHEREAS, in order to comply with the requirements of Governmental Accounting Standards Board Statement No. 54, Fund Balance Reporting and Governmental Fund Definitions (GASB54), the Town of Queensbury wishes to adopt a Fund Balance Policy, and WHEREAS, the Town Budget Officer has prepared a draft Fund Balance Policy and it is in form acceptable to Town Counsel, and WHEREAS, the Town Board wishes to adopt such Fund Balance Policy In Accordance With GASB Statement No. 54, NOW, THEREFORE, BE IT RESOLVED, that the Queensbury Town Board hereby adopts the Fund Balance Policy In Accordance With GASB Statement No. 54 substantially in the form presented at this meeting, and BE IT FURTHER, RESOLVED, that the Town Board further authorizes and directs the Town Supervisor and/or the Town Budget Officer to take any action necessary to effectuate the terms of this Resolution. Duly adopted this 16th day of November, 2015, by the following vote: AYES Mr. Metivier, Mr. Clements, Mr. Irish, Mr. VanNess, Mr. Strough NOES None AB SENT : None 2