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<br />Councilmember Strommen introduced the following resolution and moved for its adoption:
<br />
<br />RESOLUTION #06-04-119
<br />
<br />RESOLUTION APPROVING THE TRANSFER OF EXCESS GENERAL FUND
<br />REVENUES TO THE EQUIPMENT REVOLVING FUND, FACILITIES
<br />CONSTRUCTION FUND, THE IMPROVEMENT REVOLVING FUND, THE PARK
<br />UST FUND, ST. FRANCIS BLVD ASSESSMENT FUND, AND WELCOME'S ROAD
<br />ASSESSMENT FUND.
<br />
<br />WHEREAS, during the year 2005, the Ramsey City Council acted on matters impacting
<br />revenue and expenditure budgets of the City's General Fund for items that were not included in
<br />the original budget for the year ended December 31, 2005 and
<br />
<br />WHEREAS, it has been determined that there are excess revenues over and above
<br />amounts necessary to meet the fund balance requirements for the year ended December 31, 2005;
<br />and
<br />WHEREAS, $210,937.71 remained as excess revenues to be transferred from the
<br />General Fund at year ended December 31, 2005; and
<br />
<br />WHEREAS, Resolution 04-10-320 states that excess year-end General Fund revenues
<br />will be distributed to the Equipment Revolving Fund (10%), Facilities Construction Fund (40%),
<br />the Public Improvement Revolving Fund (40%); and the Park Trust Fund (10%); and
<br />
<br />WHEREAS, Council authorized assessment projects to be funded with General Fund
<br />dollars and consulting services that are to be fronted by the City until development dollars
<br />reimburse the City which would leave an amount of $18,349.71 to be distributed per the Excess
<br />Revenue Policy percentages; and
<br />
<br />WHEREAS, $1,834.97 would be transferred to the Equipment Revolving Fund,
<br />$7,339.88 to the Facilities Construction Fund, $107,339.89 to the Public Improvement Revolving
<br />Fund, $1,834.97 to the Park Trust Fund, $22,088 to the St. Francis Blvd Assessment Fund and
<br />$70,500 to the Welcome's Road Assessment Fund.
<br />
<br />NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
<br />RAMSEY, ANOKA COUNTY, STATE OF MINNESOTA, as follows:
<br />
<br />1) That the Ramsey City Council hereby approves the transfer of excess General Fund
<br />Revenues in the amount of $210,937.71 to the Equipment Revolving Fund, the Facilities
<br />Construction Fund, the Public Improvement Revolving Fund, the Park Trust Fund, the St.
<br />Francis Blvd Assessment Fund and the Welcome's Road Assessment Fund at the
<br />amounts of $1,834.97, 7,339.88, $107,339.89, $1,834.97, $22,088 and $70,500
<br />respectively.
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