Agenda - Council Work Session - 04/26/2016

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(c) Expenditures shall consist of the following uses: (1) Expenses in conjunction with the operation of the Economic Development Authority; and (2) Salaries, benefits and operating costs associated with the promotion and management of economic development activities; and (3) Capital expenditures associated with economic development activities within the City as detailed in the annual Capital Improvement Program or as directed by the Economic Development Authority and City Council. . (No Longer -Utilized) (a) The Minnesota Department of Natural Resources Grant (DIN) Fuxd be used to account for all grant monies received from tha DIN' for forestry projects. (b) Funding shall consist of the following source: (1) Grant funds from the Department of Natural Resources. (a) Eirpenditurag ?hall consist of the following uses: (1) Allowable costs as outlined in the grant agreement. Ed) Thiel fund is not eligible for inter fund loans. 7. Equipment Revolving Fund. (Fund 9234) (a) The Equipment Revolving Fund shall be used to account for resources to finance the replacement/addition of City equipment, vehicles and/or buildings and facilities. (b) Funding shall consist of the following sources: (1) Transfers from the Landfill Tipp g Fee Fund of seventy five percent (75%) of tipping fees received during the life of the Anoka Regiorml l axitarj T axdfill; and (2) Tmxofers from non proprietary fund types in the amount of tho annual depreciation to be held and invested in order to provide funds for the replacement of equipment, vehicles, and/or buildings and facilities; and (2) Interest earnings on the Equipment Revolving Fund from the distribution of pooled interest earnings; and (3) Transfers from the General Fund at year-end for excess General Fund Revenue as outlined in the Excess/Deficient General Fund Revenue Policy (#11-11-217). (Resolution # amended after policy is amended). (c) Expenditures shall consist of the following uses: (1) Tmxofers to non proprietary fund types for costs associated with the replacement of equipment, vehicles, and/or buildings and facilitiao in ax amount not to exceed the lesser of seventy five percent (75%) of the replacement cost or one hundred percent (100%) of the depreciated value; and (-2) TRaxgfers to non proprietary fund types for costs associated with the purchase of non replacement equipment, vehicles, and/or buildings and facilitiao ix ax amount not to exceed fifty percent of ra~iixixg cumulative interest aa-inrgo axd F rKnil Fund Excess Revenue transfers unless authorized by 2/3 majority vote of City Council. Rarminixg cumulative interest earnings and Geno<al Fund Excess Revenue transfer will be that balance that ra i af4c all authorized non replacement equipment purchases have been accounted for; and (1) Transfers to the General Fund to provide funding for annual capital equipment Page 5 of 14