ITEM TITLE:
Title
Consider approving a resolution amending Resolution 99-62, which created certain City of Lawton funds that are no longer needed or can be combined with other funds, authorizing the transfer of the fund balances, and establishing an effective date.
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INITIATOR: Donald Moore, Finance Director
STAFF INFORMATION SOURCE: Donald Moore, Finance Director
BACKGROUND: : In conjunction with the Tyler implementation, Financial Services reviewed the various funding accounts maintained by the City to assess which ones retained a valid purpose. The City of Lawton currently maintains 74 funds; by contrast, the City of Broken Arrow maintains 29 funds. Munis allows the City to track revenues and expenses without the need for several dedicated funds. Reducing the City’s funds is consistent with “best practices” in local governmental accounting. Resolution 99-62 was adopted by the Lawton City Council on May 18, 1999, creating multiple funds including, but not limited to, the State Landfill Fee Fund, Hunt and Fish Cash Fund, General Investment Fund, Animal Welfare Neuter Fund, Payroll Claims Fund, Adult Softball Fund, Animal License Fund, Park Fee Fund, Library Grants Fund, Cemetery Reward Fund, and Wastewater Maintenance Fund. Recommendations for these funds are listed in Exhibit A.
EXHIBIT: Resolution 21-_____, Resolution 99-62 , Exhibit “A”
KEY ISSUES: None
FUNDING SOURCE: N/A
STAFF RECOMMENDED COUNCIL ACTION: Approve Resolution 21-_____.