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HomeMy Public PortalAboutR3273RESOLUTION NO. 3273 A RESOLUTION, transferring fund balances totaling Four Million One Hundred Seventy-Five Thousand Dollars ($4,175,000.00) to Debt Service Fund 2822 from the following eight funds: Debt Service Fund 2808 in the amount of One Million Six Hundred Seventeen Thousand Nine Hundred Forty-Six Dollars ($1,617,946.00), Debt Service Fund 2810 in the amount of Eight Hundred Thirty-Two Thousand Seven Hundred Ten Dollars ($832,710.00), Debt Service Fund 2812 in the amount of Three Hundred Seventy Thousand Dollars ($370,000.00), Debt Service Fund 2816 in the amount of Fifty Five Thousand Dollars ($55,000.00), Debt Service Fund 2817 in the amount of Seventy Thousand Dollars ($70,000.00), Debt Service Fund 2818 in the amount of Fifteen Thousand Dollars ($15,000.00), Debt Service Fund 2819 in the amount of Two Hundred Forty Thousand Dollars ($240,000.00), and General Fund 1101 in the amount of Nine Hundred Seventy-Four Thousand Three Hundred Forty Four Dollars ($974,344.00) and transferring Four Hundred Fifteen Thousand Dollars ($415,000.00) to Debt Service Fund 2804 from Debt Service Fund 2821 and transferring Three Hundred Eighty Thousand Dollars ($380,000.00) to Debt Service Fund 2804 from General Fund 1101 and transferring One Hundred Eighty Five Thousand Dollars ($185,000.00) to Debt Service 2820 from General Fund 1101. These transfers are based on an internal review and adjust for differences in actual and budgeted debt payments due to the timing of the issuance of senior and subordinate bonds. This is an annual process. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE METROPOLITAN ST. LOUIS SEWER DISTRICT that: The total sum of Four Million One Hundred Seventy-Five Thousand Dollars ($4,175,000.00) is hereby transferred into Debt Service Fund 2822 from Debt Service Fund 2808 in the amount of One Million Six Hundred Seventeen Thousand Nine Hundred Forty-Six Dollars ($1,617,946.00), Debt Service Fund 2810 in the amount of Eight Hundred Thirty-Two Thousand Seven Hundred Ten Dollars ($832,710.00), Debt Service Fund 2812 in the amount of Three Hundred Seventy Thousand Dollars ($370,000.00), Debt Service Fund 2816 in the amount of Fifty Five Thousand Dollars ($55,000.00), Debt Service Fund 2817 in the amount of Seventy Thousand Dollars ($70,000.00), Debt Service Fund 2818 in the amount of Fifteen Thousand Dollars ($15,000.00), Debt Service Fund 2819 in the amount of Two Hundred Forty Thousand Dollars ($240,000.00), and General Fund 1101 in the amount of Nine Hundred Seventy-Four Thousand Three Hundred Forty-Four Dollars ($974,344.00). The total sum of Four Hundred Fifteen Thousand Dollars ($415,000.00) is also hereby transferred into Debt Service Fund 2804 from Debt Service Fund 2821, as well as Three Hundred Eighty Thousand Dollars ($380,000.00) into Debt Service Fund 2804 from General Fund 1101 and One Hundred Eighty Five-Thousand Dollars ($185,000.00) into Debt Service Fund 2820 from General Fund 1101. The foregoing Resolution was adopted on June 9, 2016 Metropolitan St. Louis Sewer District 2015-2016 Fund Balance Transfer The following amounts are available for a transfer of funds: Fund Name Fund Major Natural Account Amount Debt Service Fund 2006C 2808 48100 $1,617,946 Debt Service Fund 2008A 2810 48100 832,710 Debt Service Fund 2010B 2812 48100 370,000 Debt Service Fund 2011B 2816 48100 55,000 Debt Service Fund 2012A 2817 48100 70,000 Debt Service Fund 2012B 2818 48100 15,000 Debt Service Fund 2013B 2819 48100 240,000 General Fund 1101 48100 974,344 Total Available for Transfer: $4,175,000 The following amounts are additional funds needed: Major Fund Name Fund Natural Account Amount Debt Service Fund 2015B 2822 48100 $4,175,000 Total Funds Needed: $4,175,000 The following amounts are available for a transfer of funds: Major Fund Name Fund Natural Account Amount Debt Service Fund 2015A 2821 48100 $415,000 General Fund 1101 48100 565,000 Total Available for Transfer: $980,000 The following amounts are additional funds needed: Major Fund Name Fund Natural Account Amount Debt Service Fund 2004A 2804 48100 $795,000 Debt Service Fund 2013A 2820 48100 185,000 Total Funds Needed: $980,000