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Case #9 TRANSFER OF LANDFILL TIPPING FEE FUNDS By: Sandra Ashley Helling, Flnance Officer Background: At the Budget Committee meeting of October 29, 1991, we discussed the City's Equipment Replacement Funds and the fact the contribution to these funds through the years has not kept pace with the additions or replacement requirements. During this meeting, Staff recommended transferring the available fund balance of the Landfill Tipping Fee - general purpose portion as of December 31, 1991 to the Equipment Replacement Fund as this would significantly reduce the unfunded liability. The Budget Committee made the following motion: Motion to recommend to the Ramsey City Council that the Finance Officer be instructed to transfer the Landfill Fee Fund Balance that is available for any general purpose to the Fixed Asset Replacement Fund. The year-end final entries have now been made to these funds and the status is as follows: Landfill Tipping Fee - Fund Balance: Restricted Portion Available for General Purpose Total Fund Balance Transfer to Equipment Replacement 12/31/91 Balance $416,144 557,889 $974,033 (557,889) $416,144 Equipment Replacement- Fund Balances: Non-Fire Equipment Replacement All other Total Fund Balances Transfer from Tipping Fee 12/31/91 Balance $52,319 _ 375.032 $427,351 · 557,889 $985,240 As of 12/31/91, the following funds are required for at cost replacement funding: Replacement Buildings Books Park equipment/improvements parking lots, lights EDP - Hardware EDP - Software Furniture Machinery & Equipment Vehicles Total- Fixed Assets Original Fund Should Oost Be @ 12/91. 1,089,950 232,684 443 80 608,609 205,880 222,812 162,172 61,948 51,955 42,570 28,215 520,455 225,330 905.380 507,592 3,452,167 1,413,848 12/31/91 Unfunded replacement cost $428,608