| | | | | | | | | 
| Resolution | NO. 35 |
| | | |
| | | | | | | | | A Resolution to approve a deficit elimination plan for the W.K. Kellogg Airport Fund. | | | |
| | | | | | | | | BATTLE CREEK, MICHIGAN - 1/3/2017 | | | |
| | | | | | | | |
Resolved by the Commission of the City of Battle Creek:
The deficit elimination plan as shown on the attached schedule is approved for the W.K. Kellogg Airport Fund through fiscal year ending 6/30/17.
I, Victoria Houser, City Clerk of the City of Battle Creek, hereby certify the above and foregoing is a true and correct copy of a Resolution adopted by the Battle Creek City Commission at a Regular meeting held on January 3, 2017.
Victoria Houser
| | | |
| | | | | | | | | Battle Creek City Commission
1/3/2017
Action Summary | | | |
| | | | | | | | | | Staff Member: | Linda A. Morrison, Finance Director | | Department: | Finance |
| | | |
| | | | | | | | | SUMMARY
| A Resolution to approve a deficit elimination plan for the W.K. Kellogg Airport Fund.
| BUDGETARY CONSIDERATIONS
| | No adjustment to the fiscal year 2017 budget for the W.K. Kellogg Airport fund is necessary to eliminate this small deficit. |
HISTORY, BACKGROUND and DISCUSSION
| As of June 30, 2016 the W.K. Kellogg Airport Fund shows a deficit in the amount of $5426. The elimination will come as a result of separating accrued compensated liabilities into short term and long term. This will accomplish the deficit elimination within the requirements of the Michigan Department of Treasury's calculation of deficits for proprietary funds (current assets minus current liabilities for the W.K. Kellogg Airport fund).
| DISCUSSION OF THE ISSUE
|
| POSITIONS
| |
| | | |
|