HomeMy Public PortalAbout2013-27 Resolution Approving Proposed Transfers, Loans and Uses of Fund ReservesMember Pederson introduced the following resolution and moved its adoption:
CITY OF MEDINA
RESOLUTION NO.2013-27
RESOLUTION APPROVING PROPOSED TRANSFERS, LOANS, AND USES OF FUND
RESERVES
WHEREAS, On April 10, 2013, the City Council conducted a workshop at which various uses of
the fund balance reserves were discussed.
BE IT RESOLVED, by the city council of the City of Medina, County of Hennepin, Minnesota,
that the following actions be:
1. $1,072,000 be Transferred from General Fund to the following funds:
- $500,000 to Equipment Replacement Fund
$100,000 to Street Fund
- $100,000 to Stormwater Fund
- $95,000 for Public Works/Police/City Hall operations/renovations
- $90,000 for the Lake Independence Outlet project
- $82,000 to HWY 55 Fund
- $55,000 to Legal Fund
$50,000 for Hamel/Loretto Fire merger
2. $180,000 be loaned from General Fund to Cable Franchise Fund
3. Use of General Capital Improvements Fund Balance
- City phone system $20,000
- Electronic data storage system $80,000
4. Capital Improvement Fund
- Authorize potential use of the General Capital Improvement fund reserves for the City
phone system and electronic data storage system projects.
Resolution No. 2013-27 1
May 7, 2013
Date: May 7, 2013.
ATTEST:
Administrator -Clerk
ator-Clerk
Scott T. Johnson, it
Elith Weir, Mayor
The motion for the adoption of the foregoing resolution was duly seconded by member Anderson
and upon vote being taken thereon, the following voted in favor thereof:
Anderson, Martin, Martinson, Pederson, Weir
And the following voted against same:
None
Whereupon said resolution was declared duly passed and adopted.
Resolution No. 2013-27 2
May 7, 2013