HomeMy WebLinkAbout18-02-12 RESOLUTION 18-02-12
A RESOLUTION APPROVING INTERFUND TRANSFERS AND FUND DESIGNATIONS
WHEREAS, The City Council adopted the 2017 budget for calendar year on December 13, 2016; and,
WHEREAS, the 2016 Annual Financial Report had a favorable fund balance of unassigned funds of
$1,458,519; and,
WHEREAS, the City Council for the City of Oak Park Heights has determined that funds from the
General Fund should be allocated in accordance with the Fund Balance Policy as adopted by the
Council;
NOW, THEREFORE, BE IT RESOLVED, by the City Council for the City of Oak Park Heights to
approve the following transfers and designations of the 2016 unassigned fund balance which is to be
included for the 2017 Annual Financial Report:
ALLOCATION OF 2016 FUND BALANCE
12/3112017
Fund Fund To
TRANSFERS OUT -2016 FUND BALANCE ALLOCATION
Transfer to Budgeted Projects Fd-Civil Defense Siren 101 401 18,000.00
Transfer to Budgeted Projects Fd -Streets Unknowns/Mill & Overlay 101 401 500,000 00
Transfer to Street Reconstruction Fund- Norell/Washington Traffic Study 101 565 5,000.00
Transfer to Park & Rec- Cover Project 101 405 100,000.00
Transfer to Capital Bond 2014-Mll Assessments 101 529 74,100.00
Transfer to Renewal/Replacement-Osgood Trail 101 710 100,000.00
797,100 00
DESIGNATIONS
Funding City Planner Special Projects 2017 Budget 101 6,000.00
Funding Est Loss of Tax Revenue-Tax Petitions- Fund Balance Inc 100 65,000.00
71,000.00
TOTAL ALLOCATIONS OF 2016 FUND BALANCE $ 868,100.00
AND, THEREFORE BE IT FURTHER RESOLVED, by the City Council for the City of Oak Park
Heights to approve the following 2017 unbudgeted transfers:
UNBUDGETED 2017 TRANSFERS
Transfer to RenewallReplacement-Osgood Trail ($100,000 Gen- Bal Pk Ded) 405 710 45,000.00
Transfer to Budgeted Projects Fd-Small Cities Grant 100 401 32,974.00
Transfer to Budgeted Projects Fd - Police Donations 100 401 1,05000
Transfer from Moelter Fund-Cover Park Improvements 407 405 40,000.00
Transfer from Budgeted Projects Fd -Cover Park improvements 401 405 50,000.00
TOTAL UNBUDGETED TRANSFERS $ 169,024.00
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Passed � 11 cl City Council for the City of Oak Park Heights th'is;77th day a ,2018,
cCo her, Mayor
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Ad mi strator