R627RESOLUTION NO. 627
A RESOLUTION ADOPTING AN AMENDED CITY OF KENNEDALE FUND
BALANCE POLICY
WHEREAS, on September 22, 2011, City Council adopted the document entitled, "Fund
Balance Policy," a framework for fiscal decision -making to ensure that financial resources are
available to meet the present and future needs of the citizens of Kennedale; and
WHEREAS, the Governmental Accounting Standards Board ("GASB") has adopted
Statement 54 ("GASB 54"), a new standard for governmental fund balance reporting and
governmental fund type definitions that became effective in governmental fiscal years starting
after June 15,2010, and
WHEREAS, the City of Kennedale, Texas ("City") elects to implement GASB 54
requirements, and to apply such requirements to its financial statements beginning with the
current October 1, 2010 — September 30, 2011 fiscal year.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF KENNEDALE, TEXAS:
The City Council of the City of Kennedale, Texas hereby approves the amended Fund Balance
Policy dated December 19, 2023, attached hereto as "Exhibit A."
PASSED, ADOPTED AND APPROVED by the City Council of the City of Kennedale,
Texas, this the 19th day of December, 2023.
APPROVED:
1 �� 4/1
May/or Jan Jo��m
ATTEST:
Ci Secretary Rae e ington