HomeMy WebLinkAbout[09b] Transfers •
crrN OF ST. Jc }stern Council Agenda Item
9(b)
MEETING DATE: September 2, 2010
AGENDA ITEM: Transfers
SUBMITTED BY: Finance
BOARD /COMMISSION /COMMITTEE RECOMMENDATION: N/A
PREVIOUS COUNCIL ACTION: The City Council made a decision to forego funding the Capital
Improvement Plan (CIP) budgets for 2008 and 2009 due to reductions in State aids (LGA). The City
Council discussed transferring half of the 2009 general capital budget to the capital reserve fund for
possibly funding the projects listed below. Due to the balance of the 2009 working capital reserves in
the General Fund, the Council determined a portion of the 2009 capital budget may be reallocated while
still maintaining a working capital reserve of 5.2 months. The Council's policy is to maintain a working
capital reserve of 4 -6 months. The City Council approved restoring the EDA capital budget in July.
BACKGROUND INFORMATION: Preparing the 2011 budget became difficult as a result of new mandates
imposed, continued reductions in State aids, and decreased market values. Rather than budget for the
following one time projects, Department heads requested authorization to reallocate the funds
previously budgeted through the CIP that were held in reserve. The Council discussed the projects
below and agreed by consensus to move the items forward for Council consideration and possibility
adoption. T
Repair City Hall Sidewalks $ 5,650
Park Terrace Feasibility Study $ 30,000
Millstream Pond Dredging $ 12,000
Computer /Software Updates $ 10,000
CR 121 /College Ave Seal Coating $ 12,850
Police LEXIPOL Policies $ 5,000
OPEB Update — GASB $ 1,500
Sign Reflectivity Survey /Plan $ 10,000
Remodel Admin Spaces $ 5,000
Total $92,000
Note: Millstream Pond was last dredged in 1999 — 2000.
BUDGET /FISCAL IMPACT: $92,000 between funds
ATTACHMENTS: 2010 Operating Transfers
REQUESTED COUNCIL ACTION: Authorize the 2010 operating transfers as presented.
9(b):1
City of St. Joseph, Minnesota
Operating Transfers
Requested September 2, 2010 for the 2010 Financial Year
Fund Description Amount In Amount Out Purpose
Operating - budget:
101 General Fund 92,000.00 Move a portion of the capital reserve budget
490 Capital Equip Reserve 92,000.00 from 2009 to the capital equipment fund
for funding the projects listed on the Council
Request for Action form.
92,000.00 92,000.00
9(b):2