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Text of Document:
A RESOLUTION TO AUTHORIZE THE CITY RECORDER
OF THE TOWN OF VONORE, TENNESSEE TO ACCOUNT FOR ALL
MUNICIPAL STREET AID FUNDS IN THE TOWN’S GENERAL FUND UPON
APPROVAL OF THE COMPTROLLER OF THE TREASURY OF THE
STATE OF TENNESSEE
WHEREAS, Tennessee Code Annotated 54-4-203 provides for the distribution of funds in the municipal street aid fund to eligible municipalities within the state by the commissioner of finance and administration based on certain population figures found in T.C.A. 54-4-203(a), and
WHEREAS, Tennessee Code Annotated 54-4-204(c) requires each municipality to keep records of receipts and expenditures from its state street aid fund in accordance with sound municipal accounting practices, and
WHEREAS, Tennessee Code Annotated 54-4-204(f) allows municipalities to keep and account for funds received from the municipal street aid fund in the general fund of the municipality upon approval of the comptroller of the treasury, and
WHEREAS, the legislative body has determined that it is in the best interests of the town of Vonore, Tennessee to account for these funds within the general fund,
NOW, THEREFORE, BE IT RESOLVED BY THE LEGISLATIVE BODY OF THE TOWN OF VONORE, TENNESSEE THAT
Section 1. The city recorder of the town of Vonore, Tennessee is hereby authorized to make written request of the Comptroller of the Treasury, Division of Municipal Audit to allow for accounting of revenues and expenditures of municipal street aid funds within the general fund of the town.
Section 2. Upon approval from the Comptroller of the Treasurer, Division of Municipal Audit for the town to account for its municipal street aid funds in the manner described above, the city recorder is directed to transfer any municipal street aid funds into the general fund of the town using appropriate accounting procedures. The transfer of funds shall be made at a time deemed appropriate by the city recorder but shall be completed no later than the end of the current fiscal year.
Section 3. A copy of this resolution, along with written request as described in Section 1., shall be sent to the Comptroller of the Treasurer, Division of Municipal Audit, Suite 1600, James K. Polk Building, Nashville, Tennessee 37243.
Section 4. This resolution shall become effective upon final approval, the public welfare requiring it.