HomeMy WebLinkAbout[04c] Transfers 4(c)
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Council Agenda Item
MEETING DATE: September 17,2018
AGENDA ITEM: Transfers
SUBMITTED BY: Finance
BOARD/COMMISSION/COMMITTEE RECOMMENDATION: None
PREVIOUS COUNCIL ACTION: Council approved the early call of the 2011A CIP bonds with the
change in usage in the city facility.
BACKGROUND INFORMATION:
Operational transfers move funds from one fund to another. The following transfer is to pay off the
2011A CIP bonds early using residual bond funds. The bond fund will be closed out at the end of the
year. Any residual balances will be put back into the Debt Service Reserve fund.
Transfer In Transfer Out
Fund 357 2011A CIP Bonds $60,000
Fund 390 Debt Service Reserves $60,000
BUDGET/FISCAL IMPACT: $60,000 between funds
ATTACHMENTS: Request for Council Action—Transfers
REQUESTED COUNCIL ACTION: Authorize the transfers as presented.