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� o� <br /> O ��� O CITY of ORONO <br /> ����._;_ <br /> � '1;�' � RESOLUTION OF THE CITY COUNCIL <br /> ,�� f .�°��:; G� No. 6 1 Q 5 <br /> ��k'ESH�g'� <br /> A RESOLUTION TO AMEND THE FUND BALANCE POLICY TO IMPLEMENT <br /> GASB 54 <br /> WHEREAS, the City previously adopted a fund balance policy on Novembe 22, <br /> 2010; and <br /> WHEREAS, the Government Accounting Standards Board (GASB) has issued <br /> statement 54 "Fund Balance Reporting and Governmental Fund Type Definitions"; and <br /> WHEREAS, the City the City's current fund balance policy does not comply with <br /> GASB 54 <br /> NOW THEREFORE BE IT RESOLVED; that the Orono City Council, hereby <br /> authorizes the adoption of the Amended City of Orono Fund Balance Policy. <br /> Adopted by the City Council of the City of Orono, Minnesota at a regular meeting <br /> held December 12, 2011. <br /> ATTEST: <br /> � � ��� � � ���� <br /> Linda S. Vee, City Clerk Lili Tod McMillan, Mayor <br />