HomeMy WebLinkAbout179-95RESOLUTION NO. 179-95
ACCEPTING THE TOWN OF DANVILLE'S FISCAL YEAR 1994-95 AUDITED
COMPREHENSIVE ANNUAL FINANCIAL REPORT AND
APPROVING ADJUSTMENTS TO THE FISCAL YEAR 1995-96 FINANCIAL PLAN
WHEREAS, the Town of Danville's independent auditors have completed their annual
examination of the Town's financial statements and have issued a draft report with an
unqualified opinion as to their accuracy; and
WHEREAS, the audited financial statements have been combined with introductory and
statistical information into the Town's Comprehensive Annual Financial ]Report; and
WHEREAS, the Finance Committee and the Town Council have reviewed the draft
Comprehensive Annual Financial Report; and
WHEREAS, there is $644,217 in General Fund fund balance that may be appropriated for
other purposes; now, therefore, be it
RESOLVED, that the Town Council of the Town of Danville accepts and approves the Fiscal
Year 1994-95 audited Comprehensive Annual Financial Report; and be it
FURTHER RESOLVED, that $59,702 be added to the Town's Operating Reserve, $372,679
be added to the Town's reserve for the decline in investments held to maturity, $29,381 be
appropriated in the FY 1995-96 budget for Police Services operating expenditures, $100,000
be transferred and appropriated into the Asset Replacement Fund during FY 1995/96, and
$82,455 be reserved for the potential impact of the Cost Allocation Study which the Town
will be implementing within the next several months.
APPROVED by the Town Council of the Town of Danville at a Regular Meeting held on
November 21, 1995, by the following vote:
AYES: Greenberg,
NOES: None
ABSTAINED: None
ABSENT: None
Doyle, Ritchey, Shimansky, Waldo
MAYOR
APPROVED AS TO FORM:
CITY ATTORNEY
ASRCAFR.
ATTEST:
ACTING CITY CLERK
ATTACHMENT A