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HomeMy Public PortalAboutR3516 Transfer Fund Balance from Debt Service to General FundRESOLUTIO N NO. 3516 A RESOLUTION, transferring fund balances. This resolution will transfer Twenty Thousand Dollars ($20,000.00) from Debt Service Fund 2812 to the General Fund 1101; Sixty Thousand Dollars ($60,000.00) from Debt Service Fund 2818 to the General Fund 1101; Seventy-Five Thousand Dollars ($75,000.00) from Debt Service Fund 2819 to the General Fund 1101; Eighty-Five Thousand Dollars ($85,000.00) from Debt Service Fund 2822 to the General Fund 1101; Sixty Thousand Dollars ($60,000.00) from Debt Service Fund 2825 to the General Fund 1101; and Two Million Seven Hundred Ninety Thousand Dollars ($2,790,000.00) from Debt Service Fund 2827 to the General Fund 1101. This resolution will also transfer Forty Thousand Dollars ($40,000.00) from Debt Service Fund 2826 to Debt Service Fund 2816 and Sixty Thousand Dollars ($60,000.00) from Debt Service Fund 2826 to Debt Service Fund 2817. This resolution will also transfer Twenty Thousand Dollars ($20,000.00) from Debt Service Fund 2821 to the General Fund 1101; Two Hundred Thousand Dollars ($200,000.00) from Debt Service Fund 2823 to the General Fund 1101; Six Hundred Fifty Thousand Dollars ($650,000.00) from Debt Service Fund 2824 to the General Fund 1101; Two Million Three Hundred Fifty Thousand Dollars ($2,350,000.00) from the Debt Service Fund 2828 to the 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. WHEREAS, the Director of Finance has certified that there are unencumbered balances in the above-named funds sufficient to pay the obligation authorized herein. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE METROPOLITAN ST. LOUIS SEWER DISTRICT that: Section One. The total sum of Three Million Ninety Thousand Dollars ($3,090,000.00) is hereby transferred into the General Fund 1101 in the amount of Twenty Thousand Dollars ($20,000.00) from Debt Service Fund 2812, Sixty Thousand Dollars ($60,000.00) from Debt Service Fund 2818, Seventy-Five Thousand Dollars ($75,000.00) from Debt Service Fund 2819, Eighty-Five Thousand Dollars ($85,000.00) from Debt Service Fund 2822, Sixty Thousand Dollars ($60,000.00) from Debt Service Fund 2825, Two Million Seven Hundred Ninety Thousand Dollars ($2,790,000.00) from Debt Service Fund 2827. The total sum of Forty Thousand Dollars ($40,000.00) is also hereby transferred to Debt Service Fund 2816 from Debt Service Fund 2826 and Sixty Thousand Dollars ($60,000.00) to Debt Service Fund 2817 from the Debt Service Fund 2826. The total sum of Three Million Two Hundred Twenty Thousand Dollars ($3,220,000.00) is also hereby transferred into the General Fund 1101 in the amount of Twenty Thousand Dollars ($20,000.00) from Debt Service Fund 2821, Two Hundred Thousand Dollars ($200,000.00) from Debt Service Fund 2823, Six Hundred Fifty Thousand Dollars ($650,000.00) from Debt Service Fund 2824 and Two Million Three Hundred Fifty Thousand Dollars ($2,350,000.00) from Debt Service Fund 2828. The foregoing Resolution was adopted on June 13, 2019. Metropolitan St. Louis Sewer District 2018-2019 Fund Balance Transfer Senior Debt Service Funds Transfer from: Major Fund Name Fund Natural Account Amount Debt Service Fund 2010B 2812 48100 $20,000 Debt Service Fund 2012B 2818 48100 $60,000 Debt Service Fund 2013B 2819 48100 $75,000 Debt Service Fund 2015B 2822 48100 $85,000 Debt Service Fund 2016C 2825 48100 $60,000 Debt Service Fund 2018A 2827 48100 $2,790,000 Total Transferred $3,090,000 Transfer to: Major Fund Name Fund Natural Account Amount General Fund 1101 48100 $3,090,000 Total Received $3,090,000 Transfer from: Major Fund Name Fund Natural Account Amount Debt Service Fund 2017A 2826 48100 $100,000 Total Transferred $100,000 Transfer to: Major Fund Name Fund Natural Account Amount Debt Service Fund 2011B 2816 48100 $40,000 Debt Service Fund 2012A 2817 48100 $60,000 Total Received $100,000 Subordinate Debt Service Funds Transfer from: Major Fund Name Fund Natural Account Amount Debt Service Fund 2015A 2821 48100 $20,000 Debt Service Fund 2016A 2823 48100 $200,000 Debt Service Fund 2016B 2824 48100 $650,000 Debt Service Fund 2018B 2828 48100 $2,350,000 Total Transferred $3,220,000 Transfer to: Major Fund Name Fund Natural Account Amount General Fund 1101 48100 $3,220,000 Total Received $3,220,000