HomeMy WebLinkAbout[04c] Transfers
Council Agenda Item 4c
MEETING DATE: March 5, 2018
AGENDA ITEM: Transfers
SUBMITTED BY: Finance
BOARD/COMMISSION/COMMITTEE RECOMMENDATION: None
PREVIOUS COUNCIL ACTION: None
BACKGROUND INFORMATION:
Operational transfers move funds from one fund to another. The transfers presented are annual
reimbursements for administrative and water services. The first three transfers are to move excess general
budget to the debt service reserve fund to be used for projects in the 5-year capital plan. The EDA
transfer is the capital balance to be spent on future economic development projects. The transfer from the
General fund to the government center debt fund was a budget decision to reduce the debt levy by this
amount. The bond payment was planned to be paid for with excess building permit revenues.
Residual transfers close out funds after projects are completed or bonds are paid off. The residual transfer
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closes out the Field Street project in 2017. Council approved final contract payment on Feb. 26. The
final project costs were completed in 2017.
BUDGET/FISCAL IMPACT: $578,224.62 between funds
ATTACHMENTS: Request for Council Action – Transfers
REQUESTED COUNCIL ACTION: Authorize the operating, residual and due to/from transfers as
presented.
101-41430-34118
105-42210-301
101-45202-210
101-41941-210
101-41942-210
101-43120-210
101-45201-210
602-49450-210
105-42220-210
601-00000-37111