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Council Agenda Item 4 h
MEETING DATE:
June 5, 2008
AGENDA ITEM: Transfers -Requested Action: Authorize the Operating transfers as of
December 31, 2007 as presented.
SUBMITTED BY: Finance
BOARD/COMMISSION/COMMITTEE RECOMMENDATION: N/A
PREVIOUS COUNCIL ACTION: None
BACKGROUND INFORMATION: Included are operating fund transfers as of December 31, 2007 to
properly report the financial condition of the city. Descriptions of the proposed transfers are included
on the spreadsheet.
Operatine Transfer: Transfers of current year activity to properly report the fund's activity.
BUDGET/FISCAL IMPACT: $236,000 -Operating Transfers
ATTACHMENTS: Operating/ResidualTvansfers -for 2007
REQUESTED COUNCIL ACTION: Approve the 2007 operating transfers as presented.
City of St. Joseph, Minnesota
Operating Transfers
Requested June 5, 2008 for 2007 Financial Year
Fund Description Amount In Amount Out Purpose
Oceratina:
502 Sewer Access Fund 100,000.00 To reimburse CR 121 project bonds for
602 Sewer Fund 100,000.00 Meadowvale lawsuit expenditures
325 2002 GO Bonds 200,000.00 using sewer connection and rate fees
502 Sewer Access Fund 36,000.00 Annual transfer to cover 2001 Sewer
602 Sewer Fund 36,000.00 Revenue bonds payments
236,000.00 236,000.00