0680 RESOLUTION NO. 680 (# 06 — 2012)
A RESOLUTION AUTHORIZING THE CLOSURE OF TWO BANK ACCOUNTS(FOR
9-1-1 FUND AND THE SALES TAX FUND);AND, FOR OTHER PURPOSES.
WHEREAS, currently the City maintains a separate bank account for the 911 Fund and a
separate bank account for the Sales Tax Fund. However, because of a change in reporting
practices and procedures, there is,no longer a need for separate accounts for these two funds, as
those monies ultimately end up being deposited/transferred into the General Funds account for
payment of appropriate City expenditures; and,
WHEREAS, directly depositing said monies into the General Funds account and tracking
said deposits separately will be more efficient, will eliminate the need for internal transfers, and
will streamline Finance Department's practices in compliance with GASB approved and
recommended procedures.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
JACKSONVILLE,ARKANSAS, THAT;
SECTION ONE; Closure of currently existing checking accounts for both the
911 Fund and the Sales Tax Fund will streamline Finance Department processes and procedures
and still allow accounting of said monies through separate records. The Mayor and Finance
Department Director are hereby authorized to do so and to implement proper processes and
procedures to insure that monies from said Funds are deposited directly into the City's General
Funds account, thus eliminating the need for internal transfers and streamlining Department
practices and procedures in accounting for the incomes of each fund.
SECTION TWO: Any and all other Resolutions in conflict herewith are hereby
repealed to the extent of said conflict.
SECTION THREE: This Resolution shall be in force and effect from and after
its date of passage.
APPROVED AND ADOPTED THIS gel DAY OF AUGUST, 2012.
CITY OF 'I CKSONVILL ARKANSAS
.. _ .... '. 7".. FA TCH ;, JOR
A - • �" PP' ED
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SUSAN DA VI , CITY CLERK ROB RTE, MBURG,C r ORNEY