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however, there is $700 from a drug forfeiture which would be enough to outfit three of <br />the rifles. <br /> <br />Motion by Councilmember Hendriksen and seconded by Councilmember Zimmerman to <br />recommend Council adopt the resolution authorizing the purchase of accessory <br />equipment for surplus rifles from drug forfeiture funds. <br /> <br />Motion carried. Voting Yes: Mayor Gamec, Councilmembers Hendriksen, Zimmerman <br />and Anderson. Voting No: None. <br /> <br />Case #4: Authorize Transfer of General Fund Revenues <br /> <br />Finance Officer Lund stated that after meeting fund balance requirements at year-end, <br />$477,259.09 remained as excess revenues to be transferred from the General Fund. <br />Transfers would be as such: $47,725.91 in the Equipment Revolving Fund, $190,903.64 <br />in the Facilities Construction Fund, and $238,629.55 in the Public Improvement <br />Revolving Fund. She noted that the City is currently facing the f'mancial question of how <br />to fund the remodeling of the Old Town Hall. The costs pertaining to this project could <br />be offset by the revenue from the year-end General Fund Revenue transfer. The cost to <br />complete the remodeling of the Old Town Hall has been estimated at $100,000. If the <br />Committee would consider using $100,000 for the Old Town Hall, the split could be as <br />follows: $37,725.91 in to the Equipment Revolving Fund, $150,903.64 into the Facilities <br />Construction Fund, and $188,629.54 in the Public Improvement Revolving Fund. <br /> <br />Due to time constraints, the Committee was unable to complete discussion of this case or <br />vote on it. <br /> <br />ADJOURNMENT <br /> <br />Consensus of the Committee was to adjourn the meeting. <br /> <br />The regular Finance Committee meeting adjourned at 7:00 p.m. <br /> <br />~Deputy City Clerk <br /> <br />Diana Lund <br />Finance Officer <br /> <br />Finance Committee/April 27, 1999 <br /> Page 3 of 3 <br /> <br /> <br />