HomeMy Public PortalAbout2015-064 Resolution Approving Proposed Transfers and Assignment of Fund ReservesMember Pederson introduced the following resolution and moved its adoption:
CITY OF MEDINA
RESOLUTION NO.2015-64
RESOLUTION APPROVING PROPOSED TRANSFERS AND
ASSIGNMENT OF FUND RESERVES
WHEREAS, for 12/31/14, the fund balance goal is $1,716,461 (using 5/12 of 2015 budgeted
expenditures of $4,119,507). The General fund balance at 12/31/14 was $2,102,951, or $386,490
above the goal.
BE IT RESOLVED, by the city council of the City of Medina, County of Hennepin, Minnesota,
that the following actions be:
$201,000 be Transferred from the General Fund to the following funds:
- Road Improvement Fund: $101,000 to assist in financing upcoming road projects
- General Capital Improvement Fund: $100,000 for City Hall renovations
$185,000 be Assigned from General Fund reserves:
- Retirement Liability: $65,000 for post -retirement benefits.
Comprehensive Plan: $80,000 for engineering and planning consultants.
- Health Insurance: $40,000 for potential buy -in costs to self -insure.
Date: August 5, 2015.
Bob Mitchell, Mayor
ATTEST:
Scott T. Johnson i Administrator -Clerk
ty
Resolution No. 2015-64
August 5, 2015
The motion for the adoption of the foregoing resolution was duly seconded by member
Cousineau and upon vote being taken thereon, the following voted in favor thereof:
Anderson, Cousineau, Martin, Mitchell, Pederson
And the following voted against same:
None
Whereupon said resolution was declared duly passed and adopted.
Resolution No. 2015-64 2
August 5, 2015