HomeMy WebLinkAbout02-25-88-14 - Resolution - 02/25/1988 RESOLUTION NO. 02-25-88-14
WHEREAS, one of the objectives of a cash management system
is to simplify accounting records within the context of
good financial controls; and
~EREAS, the City of College Station has three minor oper-
ating funds on the City's books:
1. The Crime Prevention Fund, which is used to ac-
count for public contributions and related expenditures of
the Police Department. The funds that are handled are
minor and can easily be accounted for as restricted cash in
the General Fund.
2. The Federal Revenue Sharing Fund, which has been
used to account for receipts from the Federal Revenue Shar-
ing Program, which is now expired. The current approved
budget provides for the transfer of the account balance to
the General Fund.
3. The Cemetery Perpetual Care Fund, which is used
to provide for the purchase of equipment used in cemetery
maintenance and receives revenues through the sale of ceme-
tery plots. The funds from the cemetery can be a restrict-
ed cash account in the General Fund; and
WHEREAS, the closing of these funds will actually provide a
greater degree of financial control through the General
Fund Budget; and
WHEREAS, the staff has recommended the elimination of these
three funds;
NOW, THEPEFOPE, BE IT PESOLVED By the City Council of the
City of College Station that the Crime Prevention Fund
shall be closed, and the current cash balance of $800 shall
be transferred to the General Fund and restricted; the Fed-
eral Revenue Sharing Fund shall be closed, and the current
...~.. ~: PASSED and APPROVED this 25th day of February, 1988.
.,~"/?'~' APPROVED:
~ ATTEST. ~~-- ~
~-- - ,'~/ Mayor __~4~ ~ ~
~' /~ City S~rekary
cash balance shall be transferred to the General Fund; and
the Cemetery Perpetual Care Fund shall be closed and the
$4,500 checking account balance and $50,000 certificate of
deposit shall be transferred to the General Fund and re-
stricted.
'06574