289.2017 Authorize Transfer Funds Undesignated General Fund Balance RESOLUTION AUTHORIZING TRANSFER OF FUNDS
FROM UNDESIGNATED GENERAL FUND BALANCE
RESOLUTION NO.: 289,2017
INTRODUCED BY: Mr. Tim Brewer
WHO MOVED ITS ADOPTION
SECONDED BY: Mr. Brian Clements
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 Mr. Clements, Mr. Brewer, Mr. Strough, Mr. Metivier
NOES None
ABSENT : Mr. Irish
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