Laserfiche WebLink
RESOLUTION #11 -10 -XXX <br />RESOLUTION RESTRICTING AND/OR COMMITTING SPECIFIC REVENUE <br />SOURCES IN SPECIAL REVENUE FUNDS <br />WHEREAS, the Governmental Accounting Standards Board's Statement 954 definition of <br />special revenue funds states that special revenue funds are used to account for and report the <br />proceeds of specific revenue sources that are restricted or committed to expenditures for <br />specified purposes other than debt service or capital projects; and, <br />WHEREAS, the term "proceeds of specific revenue sources" established that one or more <br />specific restricted or committed revenues should be the foundation for a special revenue fund and <br />comprise a substantial portion of the fund's revenues; and, <br />WHEREAS, investment earnings and transfers from other funds do not meet the definition of a <br />specific revenue source; and, <br />WHEREAS, council action is required to formalize the commitment of the specific revenue <br />sources to specified purposes. <br />NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF <br />RAMSEY, ANOKA COUNTY, STATE OF MINNESOTA, as follows: <br />1. The specific revenue sources of each special revenue fund and the specific purposes for <br />which they are restricted or committed are as follows: <br />Fund <br />Specific Revenue Sources <br />Restricted / Committed For <br />Tax Increment District <br />General property taxes in the <br />Restricted for qualified TIF <br />Funds 9201-9214 <br />form of tax increments <br />expenditures for Districts 1-14 <br />and any future Districts as <br />established by City Council. <br />Housing and Redevelopment <br />Tax Levy <br />Restricted for expenditures <br />Authority Fund 9295 <br />associated with housing and <br />redevelopment activities <br />within the City <br />Landfill Tipping Fee Fund <br />Landfill tipping fees received by <br />Restricted for the purpose of <br />9225 <br />the City in accordance with <br />mitigating and compensating <br />Ordinance 84-14, Chapter 130.10 <br />for local risks, cost, and other <br />of the Ramsey City Code, as <br />adverse effects of landfill <br />authorized by Minnesota Statutes <br />facilities, and expenditures <br />§ 115A.921 of the Solid Waste <br />unrelated to landfill facilities <br />Management Act <br />but focused on environmental <br />contributions to the City. <br />Resolution #11 -10 -XXX <br />Page 2 of 2 <br />