HomeMy WebLinkAbout[04c] TransfersCPI'i' t3F S'�:,1(kshpH
MEETING DATE: March 6, 2014
Council Agenda Item 4(c)
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 the 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 fund 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.
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City of St. Joseph, Minnesota
01�xaraUng I rsnafiDre
RequesredFebruary2O.2O14 for 2O13Finanoia|Year
Fund Description Amount O x Purpose
101 General Fund 101-*1430-34118 11.450.33 Annual transfer from fire fund m
105 Fire Fund 105-42210-301 11.450.33 general fund for administrative aenmea
101 General Fund 20.000.00 Transfer capital reserve from u project nolonger
480 General Capital Fund 20.000.00 needed m the Street aeu/ooutbudget.
_��0.33_ 31,450.33-
Residual:
342 2008 Equipment Certificates
101 General Fund 41045
210 Recreation Center
200 Half Cent Sales Tax Fund 18.274.35
416.45 close 2008 certificates - paid off 12-1-13.
19,274.35 Close final funds m cover Community Center/
Government Center design. Expensed 2013.
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