Agenda - Council - 03/23/2021 - Laserfiche WebLink

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Councilmember introduced the following resolution and moved for its adoption: RESOLUTION #21-073 RESOLUTION APPROVING THE TRANSFER OF EXCESS GENERAL FUND REVENUES TO THE EQUIPMENT REVOLVING FUND, FACILITIES CONSTRUCTION FUND, CAPITAL MAINTENANCE FUND AND PUBLIC IMPROVEMENT REVOLVING FUND (PIR) WHEREAS, during the year 2020, the Ramsey City Council acted on matters impacting revenue and expenditure budgets of the City's General Fund for items that were not included in the original budget for the year ended December 31, 2020; and WHEREAS, it has been determined that there are excess revenues over and above amounts necessary to meet the fund balance requirements for the year ended December 31, 2020; and WHEREAS, $1,376,214.72 remained as excess revenues to be transferred from the General Fund at year ended December 31, 2020; and WHEREAS, Resolution #16-05-089 states that excess year-end General Fund revenues will be distributed to the Equipment Revolving Fund (30%), Facilities Construction Fund (10%), the Capital Maintenance Fund (30%) and the Public Improvement Revolving Fund (30%); and WHEREAS, $412,864.42 will be transferred from the General Fund to each of the Equipment Revolving Fund, Capital Maintenance Fund and Public Improvement Revolving Fund and $137,621.46 to the Facilities Construction Fund. NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF RAMSEY, ANOKA COUNTY, STATE OF MINNESOTA: 1) That the Ramsey City Council hereby approves the transfer of excess General Fund Revenues in the amount of $1,376,214.72 to the Equipment Revolving Fund, the Facilities Construction Fund, Capital Maintenance Fund and Public Improvement Revolving Fund at the amounts of $412,864.42, $ 513 7, 621.4 6, $412,864.42, and $412,864.42, respectively. The motion for the adoption of the foregoing resolution was duly seconded by Councilmember and upon vote being taken thereon, the following voted in favor thereof: and the following voted against the same: and the following abstained: and the following were absent: Whereupon said resolution was declared duly passed and adopted by the Ramsey City Council this the 23rd day of March 2021.