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CITY OF SEWARD, ALASKA <br /> RESOLUTION 2009 -131 <br /> Section 2. The new components of fund balance will consist of nonspendable fund <br /> balance (inherently nonspendable), restricted fund balance (externally enforceable limitations on <br /> use), committed fund balance (self - imposed limitations established by the City Council prior to <br /> the cnd of the period), assigned fund balance (limitations resulting from intended use, to be <br /> established by the City Council, the city manager or his designee), and unassigned fund balance. <br /> Section 3. The nonspendable fund balance reflects resources that are inherently <br /> nonspendable. The restricted fund balance represents externally enforceable limitations on use <br /> of resources. The committed fund balance category requires action by the City Council to <br /> impose, remove or modify an clement of committed fund balance. The assigned fund balance <br /> category describes the portion of fund balance that reflects the government's intended use of <br /> resources and may be delegated to the city manager or his designee. The City Council hereby <br /> authorizes the city manager or finance director to classify fund balance as assigned, as <br /> appropriate. The unassigned fund balance reflects any remaining net resources which are not <br /> properly classified in any one of the other classifications. <br /> Section 4. This resolution shall take effect immediately upon its adoption. <br /> PASSED AND APPROVED by the City Council of the City of Seward, Alaska, this <br /> 23rd day of November, 2009. <br /> THE CITY OF SEWARD, ALASKA <br /> illard E. Dunham, Mayor <br /> AYES: Valdatta, Bardarson, Smith, Keil, Shafer, Amberg, Dunham <br /> NOES: None <br /> ABSENT: None <br /> ABSTAIN: None <br /> ATTEST: ss' 4 &'dr 7.5i, <br /> Jean Lewis, CMC <br /> City Clerk x { ' <br /> M q � <br /> • f d <br />