HomeMy WebLinkAbout[04e] Transfers - 2015 Financial Year
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Council Agenda Item \[04e\]
MEETING DATE:
May 4, 2015
AGENDA ITEM:
Transfers – For 2015 Financial Year
SUBMITTED BY:
Finance
BOARD/COMMISSION/COMMITTEE RECOMMENDATION:
The EDA reviewed the
transfers to reimburse the EDA for TIF development expenses.
PREVIOUS COUNCIL ACTION:
Council approved creation of TIF 2-3 Bayou Blues and Alley Flats,
TIF 3-1 Central MN Credit Union and TIF 2-1 Millstream Shops and Lofts.
BACKGROUND INFORMATION:
An operating transfer is requested to reimburse the EDA fund for expenses incurred in 2014 and 2015 for
TIF development. The expenses are approved administrative expenses of the TIF plans.
The second transfer is a transfer from the EDA fund to the Revolving Loan fund to support proposed
projects to revitalize the downtown area.
Fund Description Amount In Amount Purpose
Out
Operating:
150 EDA Fund - 2014 transfer 6,634.00 Reimburse the EDA fund
for 2014 and 2015
150 EDA Fund - 2015 1,317.00 TIF development
reimbursement costs incurred.
157 TIF 2-1 Millstream Shops and Lofts - 2014 transfer
1,766.81
157 TIF 2-1 Millstream Shops and Lofts - 2015
Reimbursement
150.00
152 TIF 3-1 CMCU - 2014
transfer
1,017.00
152 TIF 3-1 CMCU - 2015
reimbursement
1,167.00
159 TIF 2-3 Bayou Blues and Alley Flats - 2014 transfer
3,850.19
150 EDA Fund Allocate funds to
RLF program
7,951.00
250 Revolving Loan Fund
7,951.00
15,902.00 15,902.00
BUDGET/FISCAL IMPACT:
$15,902.00 between funds
ATTACHMENTS:
Request for Council Action - Transfers
REQUESTED COUNCIL ACTION:
Authorize the 2015 transfers as requested.
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