11-10536r RESOLUTION NO. 10536
RESOLUTION AUTHORIZING THE COMMITTEE OF SPECIFIC REVENUE
SOURCES IN SPECIAL REVENUE FUNDS
WHEREAS, the Governmental Accounting Standards Board's Statement#54
definition of special revenue funds states that special revenue funds are used to account
for and report the proceeds of specific revenue sources that are restricted or committed to
expenditures for specified purposes other than debt service or capital projects; and'
WHEREAS, the term "proceeds of specific revenue sources" establishes that one or
more specific restricted or committed revenues should be the foundation for a special
revenue fund and comprise a substantial portion of the fund's revenues; and,
WHEREAS, investment earnings and transfers from other funds do not meet the
definition of a specific revenue source; and,
WHEREAS, council action is required to formalize the commitment of the specific
revenue sources to specified purposes.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Richfield
that effective July 12, 2011 the specific revenue source of each special revenue fund and
the specific purposes for which they are restricted or committed are as follows:
Fund Specific Revenue Sources Committed For
Liquor Contributions Liquor Operation Profits Certain City capital
improvements approved by
ordinance.
Tourism Administration Administrative Fee on Administration of the tourism
Tourism tax fund.
Communications Fund Cable TV Franchise Fees Finance public service cable
television programming and
public information activities
Elections Cell carrier antenna To offset the costs of City
revenues elections.
Drug/Forfeiture Forfeited cash and property Law enforcement purposes.
911 Fees 911 fees collected Implementation and
maintenance of 911 system
Public Safety Compliance Fines levied against The costs related to
businesses that fail alcohol performing the compliance
and tobacco compliance checks and expenditures
checks and Public Safety related to the Public Safety
JAG and CERT Grants. JAG and CERT Grants.
Recreation Contributions Donations received. The donations are used
toward purposes that benefit
City recreation services.
Nature Center Contributions Donations received. The donations are used
toward purposes that benefit
Wood Lake Nature Center.
Community Center Days Out Charges for days out To offset costs to administer
programs. the programs.
Public Health Grants Federal grant dollars that To assess and enhance the
originate from the Centers capacity of the state and
for Disease Control and local public health
Prevention. departments to respond to
bioterrorism, infectious
diseases and other threats
to public health.
Wood Lake Half Marathon Race fees generated and Revenues are used to
donations. provide funding for Wood
Lake Nature Center's
environmental education
curriculum.
Utility Franchise Fees Gas and Electric franchise Street maintenance and
fees. forestry programs.
Adopted by the City Council of the City of Richfield, Minnesota this 28th day of
June, 2011.
-19efb'bie oette , l ayor
ATTEST:
Nancy Gibb4 ity Clerk