15-11089r RESOLUTION NO. 11089
RESOLUTION AUTHORIZING ACCOUNTING CHANGE FROM AN ENTERPRISE
(PROPRIETARY) FUND TO A CAPITAL PROJECT (GOVERNMENTAL) FUND —
RECREATION ENTERPRISE FUND (RICH ACRES GOLF COURSE)
WHEREAS, Rich Acres Golf Course operation closed at the end of 1999, and has
not operated as an enterprise since that time, and
WHEREAS, reporting the operations of the Rich Acres Golf Course operation as a
Capital Project fund would be the proper presentation of the operation, and
WHEREAS, the City Council of the City of Richfield beginning with the current
(January 1, - December 31, 2015) fiscal year wishes to change the method by which it
accounts for the Rich Acres Golf Course operation within the Recreation Enterprise Fund;
and
WHEREAS, Per GASB 54 the balances within the new Capital Project Fund will be
considered as assigned.
NOW THEREFORE BE IT RESOLVED, by the City Council of the City of Richfield
that effective January 1, 2015, the Rich Acres Golf Course operation within the
Recreation Enterprise Fund, will be accounted for as a Capital Project Fund.
Adopted by the City Council of the City of Richfield, Min of this 9th d y f June, 2015
A
Edwina Garcia, Mayor Pro Tempore
ATTEST:
I.0
Elizabeth VanHoose, City Clerk