401.2015 Fund Balance Capital Reserve #64 RESOLUTION AUTHORIZING TRANSFER OF FUNDS
FROM UNDESIGNATED GENERAL FUND BALANCE
TO REPLENISH CAPITAL RESERVE #64
RESOLUTION NO.: 401,2015
INTRODUCED BY: Mr.Anthony Metivier
WHO MOVED ITS ADOPTION
SECONDED BY: Mr. Brian Clements
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 for
future Town project developments known as Capital Reserve #64 which was established to fund
expenditures associated with the CIP, and
WHEREAS, the Town Budget Officer has recommended that the Town Board transfer $1.3
million from the Town's undesignated, unassigned General Fund's Fund Balance to Capital Reserve
#64 in order to fund future capital projects, and
WHEREAS, the Town Board therefore wishes to authorize the Town Budget Officer to
replenish Capital Reserve #64 by appropriating $1.3 million of undesignated, unassigned Fund
Balance from the General Fund 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 $1.3 million from the Town's General Fund undesignated, unassigned Fund
Balance to the Capital Reserve #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 16th day of November, 2015, by the following vote:
AYES Mr. Metivier, Mr. Clements, Mr. Irish, Mr. VanNess, Mr. Strough
NOES None
ABSENT : None
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