HomeMy WebLinkAboutRES CC 2025 4332 2025 0618 RESOLUTION NO. 2025-4332
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
MOORPARK, CALIFORNIA, DESIGNATING FUND
BALANCE COMMITMENTS AND ASSIGNMENTS FOR
FISCAL YEAR (FY) 2024/2025 AS REQUIRED BY
GOVERNMENTAL ACCOUNTING STANDARDS BOARD
(GASB) 54
WHEREAS, GASB issued Statement No. 54, Fund Balance Reporting and
Governmental Fund Type Definitions (GASB 54); and
WHEREAS, for financial statement reporting purposes, GASB 54 defines
Committed amounts as those constrained to specific purposes by the government itself;
and
WHEREAS, for financial statement reporting purposes, GASB 54 defines
Assigned amounts as those the government intends to use for a specific purpose; and
WHEREAS, the City Council adopted Policy 5.5, Fund Balance Reporting as
Required by Governmental Accounting Standards Board Statement No. 54 (GASB 54),
in City Council Policies Resolution No. 2022-4097 on May 18, 2022.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF MOORPARK DOES
HEREBY RESOLVE AS FOLLOWS:
SECTION 1. The City Council designates the following Committed Fund Balances
for FY 2024/2025: the Library Fund (1010) for the purpose of providing library services,
and within the General Fund (1000), amounts set aside for the Economic Contingency
Reserve and the Economic Uncertainty Reserve.
SECTION 2. The City Council designates the following Assigned Fund Balances
for FY 2024/2025 for the future design and construction of infrastructure improvement
projects: Capital Projects (3000), City Hall Improvement (3001), Police Facilities (3002),
Equipment Replacement (3003), Special Projects (3004), Remaining Bond Proceeds
(3005), and DDA Settlement Capital (3007). The City Council designates the following
Assigned Fund Balances for FY 2024/2025 for future equipment replacements and
enhancements: PEG Capital (3006), IT Equipment Replacement (3008), Vehicle
Replacement(3009), Facilities Replacement(3010), and Technology Enhancement Fund
(3011). The City Council designates the following Assigned Fund Balances for use only
within the departments the funds represent: Community Development (2200) and
Engineering/Public Works (2205).
Resolution No. 2025-4332
Page 2
SECTION 3. The City Clerk shall certify to the adoption of this resolution and shall
cause a certified resolution to be filed in the book of original resolutions.
PASSED AND ADOPTED this 18th day of June, 2025.
Chris R. Enegr n, Mayor
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Resolution No. 2025-4332
Page 3
STATE OF CALIFORNIA )
COUNTY OF VENTURA ) ss.
CITY OF MOORPARK )
CERTIFICATION
I, Ky Spangler, City Clerk of the City of Moorpark, California, do hereby certify
under penalty of perjury that the foregoing Resolution No. 2025-4332 was adopted by the
City Council of the City of Moorpark at a regular meeting held on the 18th day of June,
2025, and that the same was adopted by the following vote:
AYES: Councilmembers Barrett, Castro, Delgado, Means and Mayor Enegren
NOES: None
ABSENT: None
ABSTAIN: None
WITNESS my hand and the official seal of said City this 23rd day of June, 2025.
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