HomeMy WebLinkAboutRESOLUTION 2002-76Suggested by:
City of Kenai
RESOLUTION NO. 2002-76
Administration
A RESOLUTION OF THE COUNCIL OF THE CITY OF KENAI, ALASKA CLOSING
THE 1974 DEBT SERVICE FUND.
WHEREAS, the 2002 Management Letter from Mikunda, Cottrell & Co.
recommended that the 1974 Debt Service Fund be closed because all of the
debt that this fund was created for has been paid off; and,
WHEREAS, the auditors recommend that the remaining receivables balance
and the deficit fund balance should be accounted.for in the General Fund; and,
WHEREAS, the City administration agrees with these recommendations; and,
WHEREAS, when foreclosed properties are sold the proceeds will be recorded in
the General Fund thereby eliminating the $11,607 deficit.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF
KENAI, ALASKA, that the 1974 Debt Service Fund be closed and all balances be
transferred to the General Fund.
PASSED BY THE COUNCIL OF THE CITY OF KENAI, ALASKA, this 4th day of
December, 2002.
~S/c.-BOOKEY,i-tlI,: VICE ~YOR-
ATTEST:
Carol L. Freas, City Clerk
Approved by Finance'
(11/18/2002) hl