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Home My WebLink About[4c] Transfers em" OFNT.J(~ICPH Council Agenda Item 4 ~ MEETING DATE: January 3, 2008 AGENDA ITEM: Transfers - Authorize the transfers relating to closing of completed construction and bond funds and to correct a operating transfer from October 2007. SUBMITTED BY: Finance BOARD/COMMISSION/COMMITTEE RECOMMENDATION: , N/ A PREVIOUS COUNCIL ACTION: None BACKGROUND INFORMATION: The attached residual transfer requests are typical transfer requests at the end of the year to close out completed capital projects and debt service funds if the debt payments have been completed already. The operating transfer request is a correction of the annual budgeted transfer to pay for the 2006C GO Improvement Bonds. The original request was made in October. BUDGET/FISCAL IMPACT: $1,855,809.11- reallocated between funds ATTACHMENTS: Operating/Residual Transfers, for December 31, 2007 REQUESTED COUNCIL ACTION: Approvethe operating and residual transfers as presented. City of St. Joseph"Minnesota Operating/Residual Transfers Requested January 3, 2008 for 2007 Financial Year Fund Description Amount In Amount Out Purpose ODeratlna: 601 Water Revenue 5,000.00 To correct a transfer that covered the 2006C 602 Sewer Revenue 5,000.00 GO Improvement Bonds debt payment 651 Storm Sewer Revenue 10,000.00 Residual: 317 1997 Fire Hall Bonds 17,892.17 Bond refunded in 2003 - close to refunded bond fund 331 2003 Fire Hall Refunding Bonds 17,892.17 324 2001 Northland Add'n GO Bonds 129,451.32 Close bond fund - 390 Debt Service Relief Fund 129,451.32 Last bond payment made 12-1-07 432 2004 Equip Certificates - Capital 5,079.27 Close capital fund to debt service fund 307 2004 Equip Certificates - Debt ' 5,079.27 since all exp incurred 327 2002 Equip Certificates (Ladder Truck) 51,634.38 Last debt payment made 12-1-06 101 General Fund 51,634.38 437 2006 Equip Certificates-Capital ~Iose capital fund to debt service fund 337 2006 Equip Certificates-Bond since all exp incurred 2003 Liberty Pointe/ Northland 7/ Storm 428 Water Studies 45,606.52 Close capital fund to bond fund. capital 328 2003 Liberty Point GO Bonds 45,606.52 expo are completed 429 2003 Maintenance Facility Construction 123,288.37 Close capital fund to bond fund - capital 329 2003 Maintenance Facility GO Bonds 123,288.37 expo are completed 430 2004 Northland 8/16th Ave Street Improvements 24,220.46 Close capital fund to bond fund. capital 323 2004 Northland GO Bonds 24,220.46 expo are completed 431 2005 Cloverdale Street Improvements 502,710.60 Close capital fund to bond fund. capital 433 2005 Hill Street Improvements 510,353.70 expo are completed- deficit in fund 431 333 2005 Hill StlCloverdale GO Bonds 7,643.10 due to coding between 431/433 438 2006 Interior Street Improvements 438,245.48 Close capital fund to bond fund - capital 338 2006 Interior Street GO Bonds 438,245.48 expo are completed - wear course down 439 2005 EDA Cross Over Refunding-Capital 403.00 Close capital fund to bond fund 322 2005 City Hall Refunding Bonds 403.00 319 1998 Street Improvement Bonds 199,634.44 Close refunded bonds into the Refunding 321 1999 Joseph St Improvement Bonds 300,000.00 debt fund. Fund 321 will remain open until 320 2007B GO Improve Refunding Bonds 499,634.44 the Steams Coop Loan is paid off (2009)