HomeMy WebLinkAbout[04c] Transfers
4(c)
Council Agenda Item
MEETING DATE:
February 20, 2014
AGENDA ITEM:
Transfers– Requested Action: Authorize the 2013 and 2014 Transfers
SUBMITTED BY:
Finance
BOARD/COMMISSION/COMMITTEE RECOMMENDATION:
The Fire Board approved their
2013 budget including reimbursement for administrative time.
PREVIOUS COUNCIL ACTION:
The City Council adopted the 2013 budget based on projected
funding sources. Council passed 2014 capital budget on December 5, 2013
BACKGROUND INFORMATION:
Annually, the Council considers reimbursing the general fund for
administrative time spent on maintaining the fire bund operations. The reimbursement is budgeted and
calculated using 5% of the total fire fund budget. Staff waits until the audit entries are entered to
calculate the amount on actual amounts. The amount for 2013 is $11,450.33 ($11,600 was budgeted).
During the 2014 budget workshops, Council agreed to reallocating $20,000 from a CR2 welcome sign to
the 2014 sealcoating budget. Staff is recommending transferring the funds from the General Capital
Reserve fund to the General fund where the sealcoating budget is kept.
The residual transfers are transfers to close out the 2008 equipment certificates and recreation center fund.
The certificates were paid in full December 1, 2013 and can be closed out. The recreation center has been
spent down with the design work on the government center and community room.
Finally, staff is requesting to move the 2014 general capital budget to the general capital reserve fund and
park development fund. The amounts are budgeted in the general fund for levy purposes and then
transferred early in the budget year to the funds holding the capital reserves.
BUDGET/FISCAL IMPACT:
$139,221.13 between funds
ATTACHMENTS:
Request for Council Action - Transfers
REQUESTED COUNCIL ACTION:
Authorize the 2013 and 2014 financial transfers as requested.
City of St. Joseph, Minnesota
Operating Transfers
Requested February 20, 2014 for 2013 Financial Year
mount OuPurpose
FundDescriptionAmount In
At
Operating:
101 11,450.33
General Fund101-41430-34118
Annual transfer from fire fund to
105 11,450.33
Fire Fund105-42210-301
general fund for administrative services
101 20,000.00
General Fund
Transfer capital reserve from a project no longer
490 20,000.00
General Capital Fundneeded to the Street Sealcoat budget.
31,450.3331,450.33
Residual:
342 close 2008 certificates - paid off 12-1-13.416.45
2008 Equipment Certificates
101General Fund416.45
210Recreation Center19,274.35 Close final funds to cover Community Center/
200Half Cent Sales Tax Fund19,274.35 Government Center design. Expensed 2013.
51,141.1351,141.13