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FC CASE # <br /> <br />AUTHORIZE TRANSFER OF GENERAL FUND REVENUES <br /> By: Diana Lurid, Finance Officer <br /> <br />Background: <br /> <br />The City Council adopted a policy on February 24, 1992, known as the Excess Revenue <br />Policy (Resolution 94-02-045 - Resolution Establishing a Financial Policy for the <br />Purpose of Allocation of Excess/Deficient General Fund Reserves) a copy of which is <br />attached. <br /> <br />After meeting the fund balance requirements at year end, $160,148.08 remained as excess <br />revenues to be transferred from the General Fund. As stated in the policy, transfers from <br />the General Fund would be made as such: <br /> <br />Equipment Revolving Fund (10%) <br />Facilities Construction Fund (40%) <br />Public Improvement Revolving Fund (50%) <br /> <br />$16,014.81 <br />$ 64,059.23 <br />$ 80,O74.O4 <br /> <br />Recommendation: <br /> <br />Staff recommends that $160,148.08 be transferred from the General Fund to the <br />Equipment Revolving Fund in the amount o f $16, 014.81, the Facilities Construction <br />Fund in the amount of $64,059.23, and the Public Improvement Revolving Fund in the <br />amount of $80,074.04. <br /> <br />Committee: <br /> <br />Motion to recommend City Council to authorize the transfer of the General Fund Excess <br />Revenues to the Equipment Revolving Fund, the Facilities Construction Fund and the <br />Public Improvement Revolving Fund at the stated percentages. <br /> <br />Reviewed By: <br /> <br />City Administrator <br />Finance Officer <br /> <br />FC: 04/11/00 <br /> <br /> <br />