HomeMy WebLinkAbout[04e] Transfers
Council Agenda Item 4e
MEETING DATE: April 15, 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 transfers include annual transfers to fund
the retirement reserve fund as budgeted, bond payments made with local option sales tax revenues,
reimbursement for maintenance and administrative fees relating to street sweeping and compost site
administration. The two transfers to the 2019 capital project funds reimburse the EDA and General funds
for engineering and legal fees expensed out of these funds prior to bonds issued.
BUDGET/FISCAL IMPACT: $302,093.66 between funds
ATTACHMENTS: Request for Council Action – Transfers
REQUESTED COUNCIL ACTION: Authorize the transfers as presented.
City of St. Joseph, Minnesota
Operating Transfers
Requested April 15, 2019 for Financial Year 2019
FundDescriptionAmount InAmount OutPurpose
Operating:
101General Fund36,830.00
601Water Fund6,725.00 Annual Transfer for retirement
602Sewer Fund6,570.00 reserve funding from amount not used
603Refuse Fund1,600.00 for employee insurance benefits
651Storm Water Fund4,980.00
102Employee retirement reserve fund56,705.00
General Fund
101 36,765.00 Reimb General Fund for the feasibility and
407 2019 Street Improvements 36,765.00 preliminary 2018 exp for the 2019 street project
EDA Fund
150 11,488.66 Reimb EDA for Industrial Park engineering/legal
408 2019 Industrial Park Expansion 11,488.66 2018 exp over $20,000 EDA agreed to pay for.
Local Option Sales Tax
200 160,000.00 Transfer sales tax revenues committed
353 2015B GO Abatement Bonds 160,000.00 for 2015 community center abatement bonds
3042016B GO Bonds - Field Street20,000.00 Portion of Field St covered by local option sales
200Local Option Sales Tax Fund20,000.00 tax as part of the transportation funding for debt
101General Fund 101-43120-36300 14,000.00 Annual Transfer for Street Sweeping costs
651Storm Water Fund 651-49900-302 14,000.00
101General Fund 101-43120-36300 3,135.00 Annual transfer for compost permits/old site pile
603Refuse Fund 603-43230-302 3,135.00(admin staff time/loader reimbursement)
302,093.66302,093.66