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4.11 4.11 FINANCIAL\3017\Transfer Monies from Undesignated General Fund Balance to Highway Garage R Vehicle ProjectsFundBalance Policy-9-35-17 RESOLUTION AUTHORIZING TRANSFER OF FUNDS FROM UNDESIGNATED GENERAL FUND BALANCE RESOLUTION NO.: ,2017 INTRODUCED BY: WHO MOVED ITS ADOPTION SECONDED BY: 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 transfer a total of$2,800,000 from the Town's undesignated, unassigned General Fund's Fund Balance as follows: • $2,370,000 to Highway Garage Capital Project 194-1620-2899 Capital Construction; • $ 150,000 to Vehicle Replacement Project 195-1640-2020 ; and • $ 350,000 to 2018 Town Budget and WHEREAS, the Town Board concurs with the Budget Officer's recommendations and wishes to authorize the Town Budget Officer to transfer $2,800,000 of undesignated, unassigned Fund Balance from the General Fund to such accounts as delineated above, NOW, THEREFORE, BE IT RESOLVED, that the Queensbury Town Board authorizes and directs the Town Budget Officer to transfer $2,800,000 from the Town's General Fund undesignated, unassigned Fund Balance as follows: • $2,370,000 to Highway Garage Capital Project 194-1620-2899 Capital Construction; • $ 150,000 to Vehicle Replacement Project 195-1640-2020 ; and • $ 350,000 to 2018 Town Budget and make any adjustments, budget amendments, transfers or prepare any documentation and take all other actions necessary to effectuate the terms of this Resolution. Duly adopted this 25th day of September, 2017, by the following vote: AYES NOES ABSENT : 2