HomeMy WebLinkAboutReso 2002-016 RESOLUTION NO. 2002-016
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
CHULA VISTA AMENDING THE FISCAL YEAR 2001/2002
GENERAL FUND BUDGET TO PROVIDE FUNDING
NECESSARY FOR PROFESSIONAL ASSISTANCE IN
IMPLEMENTING NEW REPORTING REQUIREMENTS OF
THE GOVERNMENTAL ACCOUNTING STANDARDS
BOARD (GASB), AND APPROPRiATING FUNDS THEREFOR
WHEREAS, in June of 1999, the Governmental Accounting Standards Board (GASB)
unanimously approved the issuance of GASB Statement 34, which represented the most
significant changes in the history of financial reporting for state and local governments; and
WHEREAS, while retaining some of the information currently provided by governments
in their annual financial reports, the Statement requires additional information intended to make
the annual reports more comprehensive and easier to understand and use; and
WHEREAS, the audit firm of Capoorici, Cropper & Larson, LLP, Certified Public
Accountants, provides auditing, accounting, and advisory services to numerous govemmental
entities throughout California and are currently under contract with the City of Chula Vista for
Financial Statement auditing services; and
WHEREAS, due to the excellent work performed during the audit and their experience in
GASB 34 implementation, the City selected the firm to assist in converting the 2001
Comprehensive Annual Financial Report (CAFR) under GASB 34 requirements; and
WHEREAS, the most significant change brought about by GASB 34 is the requirement
to report major infrastructure assets and a Request for Proposal was distributed for infrastructure
valuation services; and
WHEREAS, MuniFinancial Services and American Appraisal submitted proposals and
American Appraisal was selected due to their experience with GASB 34 implementation and
competitive price.
NOW, THEREFORE~ BE IT RESOLVED that the City Council of the City of Chula
Vista does hereby amend the Fiscal Year 2002 budget by appropriating $75,240 from the
unappropriated balance of the General Fund for GASB 34 implementation assistance and Capital
Asset valuation services.
Presented by Approved as to form by
RoC .Powel M. :a eny
Assistant City Manager z/City Attorney
Resolution 2002-016 -
Page 2
PASSED, APPROVED, and ADOPTED by the City Council of the City of Chula Vista,
California, this 22nd day of January, 2002, by the following vote:
AYES: Councilmembers: Davis, Padilla, Rindone, Salas and Horton
NAYS: Councilmembers: None
ABSENT: Councilmembers: None
Shirley Horton,&q/layor
ATTEST:
Susan Bigelow, City Cler~
STATE OF CALIFORNIA ) -
COUNTY OF SAN DIEGO )
CITY OF CHULA VISTA )
I, Susan Bigelow, City Clerk of Chula Vista, California, do hereby certify that the foregoing
Resolution No. 2002-016 was duly passed, approved, and adopted by the City Council at a
regular meeting of the Chula Vista City Council held on the 22na day of January, 2002.
Executed this 22nd day of January, 2002.
Susan Bigelow, City Clerk