HomeMy WebLinkAbout[04d] Transfers11"��
Ury OF SST. JOSEPH
MEETING DATE: April 6, 2011
Council Agenda Item 4(d)
AGENDA ITEM: Transfers— Requested Action: Authorize the 2011 Transfers
SUBMITTED BY: Finance
BOARD /COMMISSION /COMMITTEE RECOMMENDATION: The EDA recommended their 2011
expenditure budget to the City Council.
PREVIOUS COUNCIL ACTION: The Council approved the 2011 EDA budget with the General fund budget
on December 2, 2010. The EDA is funded by transfers from the General fund. The General fund covers
the EDA budget through the levy, state aids and other general revenue sources.
BACKGROUND INFORMATION: The operational transfer is a routine transfer from the General fund to
the EDA for EDA operations. The General fund collects the revenue that funds the EDA operations;
therefore, periodic transfers from the General fund to the EDA are necessary during the year. Only 1/3
of the EDA budget is requested to be transferred at this time. The entire EDA budget is not funded at
one time because the General fund has not collected the revenue until later in the year.
BUDGET /FISCAL IMPACT: $28,000 between funds
ATTACHMENTS: RCA — Transfers ............. ............................... 4(d):1 -2
2011 Operating Transfers ........................... 4(d) :3 -4
REQUESTED COUNCIL ACTION: Authorize the 2011 operating transfers as presented.
4(d):1
THIS PAGE INTENTIONALLY LEFT BLANK
4(d):2
City of St. Joseph, Minnesota
Operating /Residual Transfers
Requested April 6, 2011 for the 2011 Financial Year
Fund Description Amount In Amount Out Purpose
Operating:
101 General Fund 28,000.00 Transfer half the EDA budgeted funds from the General Fund
150 EDA Fund 28,000.00 to the EDA Fund for operational costs. (1/3 budget)
28,000.00 28,000.00
4(d):3
THIS PAGE INTENTIONALLY LEFT BLANK
4(d):4