HomeMy WebLinkAbout[04d] Transfers „AtIA,Svkile-itett
crtv OF trr.uOsavet Council Agenda Item 104d1
MEETING DATE: March 4,2019
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 last two operating transfers are annual
transfers to reimburse the water fund for water usage by city meters and reimburse the general fund for
administrative costs incurred by the fire department. The first transfer is excess revenue over
expenditures in the general fund. The excess is moved to the debt service relief fund annually(if excess)
and can be used for purposes determined by council. The debt service relief fund does have programmed
CIP expenditures in the next five years. The excess will offset these projects. The main reason for the
excess revenues are building permits and development fees.
BUDGET/FISCAL IMPACT: $281,386.44 between funds
ATTACHMENTS: Request for Council Action—Transfers
REQUESTED COUNCIL ACTION: Authorize the transfers as presented.
City of St. Joseph, Minnesota
Transfers
Requested March 4,2019 for 2018 Financial Year
Fund Description Amount In Amount Out Purpose
Operating:
101 General Fund 250,000.00 Annual Transfer-Excess Budget>Exp to use
390 Debt Service Reserve Fund 250,000 00 for future projects
101 General Fund 101-41430-34118 12,093.67 Annual transfer from fire fund to
105 Fire Fund 105-42210-301 12,093.67 general fund for administrative services
101 General Fund 101-45202-210 11,058.75 Annual chargeback water usage for
101 General Fund 101-41941-210 2,492.12 other City functions.
101 General Fund 101-41942-210 2,727.84
101 General Fund 101-43120-210 945.36
101 General Fund 101-45201-210 279.44
602 Sewer Fund 602-49450-210 158.04
105 Fire Fund 105-42220-210 1,631.22
601 Water Fund 601-00000-37111 19,292.77
281,386.44 281,386.44