HomeMy WebLinkAbout[04g] Transfersc:rrv [~!~T.JQ.11sW~ ~
MEETING DATE:
AGENDA ITEM:
operating transfers as presented.
SUBMITTED BY:
Council Agenda Item
June 19, 2008
Transfers -Requested Action: Authorize the 2008 residual and
Finance
BOARD/COMMISSION/COMMITTEE RECOMMENDATION: N/A
PREVIOUS COUNCIL ACTION: A budget transfer from the General Fund to General Capital
Projects Fund was approved by the Council in 2007. The equity transfer was not. To equity transfer is
necessary to balance the 5-Year Capital Improvement Plan.
BACKGROUND INFORMATION: Included are residual and operating fund transfers for reporting
year 2008 to properly report the financial condition of the city. Descriptions of the proposed transfers are
included on the spreadsheet.
Residual Transfer: Transfers of residual balances of discontinued funds to a primary fund.
Operating Transfer: Transfers of current year activity to properly report the fund's activity.
BUDGET/FISCAL IMPACT: $201,931.50 -Operating Transfers
ATTACHMENTS: Operating/Residual Transfers -for 2008
REQUESTED COUNCIL ACTION: Approve the 2008 residual and operating transfers as presented.
und City of St. Joseph, Minnesota
Operating Transfers
Requested June 19, 2008 for 2008 Financial Year
Description Amount In Amount Out
urpose
Residual:
225 DARE Program - Close the DARE program fund. The
101 General Fund - remaining funds were turned over to
Stearns County for the DARE program in
St. Joseph. The Council motion will officially
Dose the DARE program fund.
Operating:
101 General Fund 178,931.50 To move the 07 fund equity from the general
490 Generel Capital Projeps Funtl 178,931.50 fund to the general capital projects Lund.
The cpunCil already approved moving the
capital outlay Iwdget from 101 to 490.
490 General Capital Projeds FunC 23,000.00 To move the capital designated balances
442 08 Equip Certificates 23,000.00 set aside in fund 490 to the 2008 Equip
Certificates capital fund where the designatetl
capital purchase is twdgeted for.
201,931.50 201,931.50