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4.06 4.6 FINANCIAL\2022\Transfer Monies from Undesignated General Fund Balance to Replenish Capital Reserve—5-2 RESOLUTION AUTHORIZING TRANSFER OF FUNDS FROM UNDESIGNATED GENERAL FUND BALANCE TO REPLENISH CAPITAL RESERVE NO. 64 RESOLUTION NO.: ,2022 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 $1,250,000 from the Town's undesignated, unassigned General Fund's Fund Balance to Capital Reserve No. 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 No. 64 by appropriating $1,250,000 of undesignated, unassigned Fund Balance from the General Fund and transfer such amount to the Capital Reserve No. 64, NOW, THEREFORE, BE IT RESOLVED, that the Queensbury Town Board authorizes and directs the Town Budget Officer to transfer $1,250,000 from the Town's General Fund undesignated, unassigned Fund Balance to the Capital Reserve No. 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 2nd day of May, 2022, by the following vote: AYES NOES ABSENT : 2