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CITY OF CASSELBERRY <br />Budget Amendment Request <br />BA # 11-044 <br />DATE: July 25, 2011 <br />TO: Barbara Lipscomb, City Manager <br />FROM: Randy Newlon, Finance Director <br />EXPLANATION OF REQUEST: Authorization is requested to transfer funds and close the <br />Self Insurance Fund into the General Fund. A separate Self Insurance Fund has been maintained <br />by the City for contingencies from law suits and health insurance. Accounting for the City is <br />maintained according to Generally Accepted Accounting Principles (GAAP). Rules carrying the <br />most weight to establish GAAP come from the Government Accounting Standards Board <br />(GASB). New rule GASP 54 defines funds and fund balance and the Casselberry Self Insurance <br />Fund no longer qualifies for separate presentation in the financial statements. Therefore, the <br />fund balance of the Self Insurance Fund must be moved and consolidated into the General Fund. <br />Increase: <br />Account Number <br />501-0190-519.91-01 <br />501-0000-389.90-00 <br />001-0000-381.50-00 <br />Decrease: <br />Account Number <br />001-0000-389.90-00 <br />Account Description <br />Transfer to General Fund <br />Other Non-operating Uses <br />Transfer from Self Insurance Fund <br />Account Description <br />Other Non-operating Uses <br />r <br />REQUESTED BY: <br />epartment--D=ead _-- <br />FINANCE DEPT: <br />COMMISSION ACTION: <br />approved <br />denied <br />Finance Use Only: entered by: date: count: <br />Amount <br />$ 1,092,320 <br />$ 1,092,320 <br />$ 1,092,320 <br />Amount <br />$ 1,092,320 <br />Date: f <br />Date: 7 t 9 - 1, � <br />!l <br />