HomeMy WebLinkAbout[04d] Transfers Council Agenda Item 4d
CITY OF ST.JI)SE 111
MEETING DATE: January 4, 2016
AGENDA ITEM: Transfers—For 2016 Financial Year
SUBMITTED BY: Finance
BOARD/COMMISSION/COMMITTEE RECOMMENDATION: None
PREVIOUS COUNCIL ACTION: Council adopted water rates with the plan to use up to $30,000 of
debt service relief to help cover expenses.
BACKGROUND INFORMATION:
The Operating transfers include transfers from the WAC/SAC funds to cover bond payments in
Water/Sewer. A new home permit was issued adding revenue to the WAC/SAC funds. The debt service
relief fund transfer is to cover the cash deficit on the water and sewer fund at the end of December. The
funds represent 11 months expenses, 10 months revenues for water/sewer usage. November/December
utility usage will be billed in early January.
Requested January 4, 2016 for 2015 Financial Year
Amount Amount
Fund Description In Out Purpose
Operating:
Annual transfer for 2012 water
601 Water Fund 4,800.00 revenue bonds
Utility Extension Charges - for wells/water filtration plant project
501 WAC 4,800.00 (2005D)
Cover cash deficits at
390 Debt Service Relief 52,000.00 yearend
601 Water Fund 23,000.00
602 Sewer Fund 29,000.00
Annual transfer for St Cloud PFA
602 Sewer Fund 2,600.00 Loan
Utility Extension Charges - for WWTP
502 SAC 2,600.00 project
59,400.00 59,400.00
BUDGET/FISCAL IMPACT: $59,400 between funds
ATTACHMENTS: Request for Council Action—Transfers
Transfers Summary
REQUESTED COUNCIL ACTION: Authorize the 2015 transfer as requested.
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