Committed fund balance.
The city council is the city's highest level of decision-making authority and the
formal action that is required to be taken to establish, modify, or rescind a fund
balance commitment is a resolution approved by the council at the city's council meeting.
The resolution must either be approved or rescinded, as applicable, prior to the last
day of the fiscal year for which the commitment is made. The amount subject to the
constraint may be determined in the subsequent period.
(b)
Assigned fund balance.
The city council has authorized the city's finance director as the official authorized
to assign fund balance to a specific purpose as approved by this fund balance policy.
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