HomeMy Public PortalAboutResolution 2021-05 A Resolution to Approve a Transfer of Funds from the Local Option Sales Tax Fund and the Road Use Tax Fund to the Capitla Improvement Funds and Road Replacement FundRESOLUTION 2021-05
A RESOLUTION TO APPROVE A TRANSFER OF FUNDS FROM THE LOCAL OPTION SALES TAX
FUND AND THE ROAD USE TAX FUND TO THE CAPITAL IMPROVEMENT FUNDS AND ROAD
REPLACEMENT FUND
WHEREAS, The City of Riverdale, Iowa ("City") is a Municipal Corporation, organized and
operating under the laws of the State of Iowa, and;
WHEREAS, the unencumbered funds from the City's Local Option Sales Tax fund has a
balance of $563,579.74.
WHEREAS, the unencumbered funds from the City's Road Use Tax Fund has a balance
of $215,428.79.
WHEREAS, the Capital Improvement Levy Fund has a balance of $-24,464.05, the Road
Replacement Fund has a balance of $-403,266.92, and the Capital Project 2011 Fund
has a balance of $-15,014.54.
WHEREAS, the City Council recommends the City Clerk to make the following transfers
from the Local Option Sales Tax Fund and the Road Use Fund to the Capital
Improvement Levy Fund, Road Replacement Fund, and the Capital Project 2011 Fund
to bring the funds to a positive balance per the Auditor's request:
Local Option Sales Tax Fund to Capital Improvement Levy -$24,464.05
Local Option Sales Tax Fund to Capital Project 2011-$15,014.54
Road Use Tax Fund to Road Replacement -$165,000.00
Local Option Sales Tax Fund to Road Replacement -$238,266.92
WHEREAS, those transfers would leave a balance of $285,834.23 in the Local Option
Sales Tax Fund.
WHEREAS, those transfers would leave a balance of $50,428.79 in the Road Use Tax
Fund.
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF RIVERDALE, IOWA,
That the City Council of Riverdale, Iowa authorizes staff to implement the transfer of a
total of $277,745.51 from the Local Option Sales Tax Fund and re -allocate those funds
between the Capital Improvement Levy ($24,464.05), Road Replacement ($238,266.92),
and Capital Project 2011 ($15,014.54).
That the City Council of Riverdale, Iowa authorizes staff to implement the transfer of a
total of $165,000.00 from the Road Use Tax Fund and re -allocate those funds to the
Road Replacement Fund.
Passed and approved this 9th day of February 2021.
APPROVED
ATTEST
Michael Bawden, ''•yor
Katie EnToe, Deputy Clerk
Thu Feb 25, 2021 11:10 AM BANK CASH REPORT
2021
Page 1
BANK NAME JANUARY FEBRUARY FEBRUARY FEBRUARY OUTSTANDING FEB BANK
FUND GL NAME CASH BALANCE RECEIPTS DISBURSMENTS CASH BALANCE TRANSACTIONS BALANCE
QUAD CITY BANK & TRUST
BANK QUAD CITY BANK & TRUST
001 GENERAL FUND -CHECKING
001 GENERAL RESERVE -CHECKING
110 ROAD USE -CHECKING
111 I -JOBS -CHECKING
121 LOST -CHECKING
125 TIF-CHECKING
126 TIF 2 -CHECKING
127 TIF 3 -CHECKING
128 TIF 4 -CHECKING
150 FIRE AWARDS -CHECKING
200 DEBT SERVICE -CHECKING
300 CAP IMPROVE -CHECKING
301 CAPITAL RESERVE -CHECKING
301 CAPITAL IMPROVE LEVY -CHECKING
301 CAP IMPROVE RESERVE -CHECKING
302 ROAD REPLACEMENT -CHECKING
302 ROAD REPLACE RESERVE -CHECKING
303 FIRE EQUIP/REPLACE-CHECKING
303 FD REPL RESERVE -CHECKING
304 CAP PROJECT 2011 -CHECKING
610 SEWER -CHECKING
611 SEWER CAP PROJECT -CHECKING
DEPOSITS
423,537.37 8,458.79 60,529.17 371,466.99
51,120.92 0.00 0.00 51,120.92 90, 008.79
227,455.23 0.00 12,220.67 215,234.56 12,537.86
0.00 0.00 0.00 0.00
563, 579.74 0.00 0.00 563, 579.74
263,143.91- 0.00 33, 710.50 296,854.41- 33, 810.50
0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00
96.32 0.00 0.00 96.32
235,022.92 0.00 0.00 235,022.92
73, 368.70 0.00 0.00 73, 368.70
130, 753.96 0.00 4,330.00 126, 423.96
24,464.05- 0.00 0.00 24,464.05-
102,195.44 0.00 0.00 102,195.44 4,330.00
403,266.92- 0.00 0.00 403,266.92-
51,097.74 0.00 0.00 51,097.74
41,407.29 0.00 0.00 41,407.29
51, 097.74 0.00 0.00 51, 097.74
15,014.54- 0.00 0.00 15,014.54-
127,147.41- 3,496.16 31,473.04 155,124.29- 32,577.20
29,245.61- 0.00 0.00 29,245.61-
12,150.37
QUAD CITY BANK & TRUST TOTALS 1, 088, 450.93 11, 954.95 142,263.38 958,142.50 161,113.98 1,119, 256.48
1,119,256.48
TOTAL OF ALL BANKS 1,088,450.93 11,954.95 142,263.38 958,142.50 161,113.98 1,119,256.48
BKCASHRP 12.08.20
City of Riverdale IA
OPER: KE
GLBANK01 Thu Feb 25, 2021 11:24 AM
12.08.20
City of Riverdale IA
GENERAL LEDGER TRANSACTION JOURNAL
CALENDAR 2/2021, FISCAL 8/2021
OPER: KE
JRNL:1912
PAGE 1
ACCOUNT NUMBER ACCOUNT NAME
RCPT DATE REFERENCE CHK/CRD# OTHER INFO DEBITS CREDITS
121-000-1110 LOST -CHECKING 22521 CASH TRANSFER LOST TO CAP IMP .00 24464.05
301-000-1111 CAPITAL IMPROVE LEVY-CHECKI 22521 CASH TRANSFER LOST TO CAP IMP 24464.05 .00
121-910-6910 LOST -TRANSFER OUT 22521 CASH TRANSFER LOST TO CAP IMP 24464.05 .00
301-910-4830 CAP IMPROVE-MRT PH 2 TRANS 22521 CASH TRANSFER LOST TO CAP IMP .00 24464.05
121-000-1110 LOST -CHECKING 22521 CASH TRANSFER LOST TO CAP PRO .00 15014.54
304-000-1110 CAP PROJECT 2011 -CHECKING 22521 CASH TRANSFER LOST TO CAP PRO 15014.54 .00
121-910-6910 LOST -TRANSFER OUT 22521 CASH TRANSFER LOST TO CAP PRO 15014.54 .00
304-910-4830 CAP PROJECT 2011 -TRANSFER I 22521 CASH TRANSFER LOST TO CAP PRO .00 15014.54
110-000-1110 ROAD USE -CHECKING 22521 CASH TRANSFER RUT TO ROAD REP .00 165000.00
302-000-1110 ROAD REPLACEMENT -CHECKING 22521 CASH TRANSFER RUT TO ROAD REP 165000.00 .00
110-910-6910 ROAD USE -TRANSFER OUT 22521 CASH TRANSFER RUT TO ROAD REP 165000.00 .00
302-910-4830 ROAD REPLACE -TRANSFER IN 22521 CASH TRANSFER RUT TO ROAD REP .00 165000.00
121-000-1110 LOST -CHECKING 22521 CASH TRANSFER LOST TO ROAD RE .00 238266.92
302-000-1110 ROAD REPLACEMENT -CHECKING 22521 CASH TRANSFER LOST TO ROAD RE 238266.92 .00
121-910-6910 LOST -TRANSFER OUT 22521 CASH TRANSFER LOST TO ROAD RE 238266.92 .00
302-910-4830 ROAD REPLACE -TRANSFER IN 22521 CASH TRANSFER LOST TO ROAD RE .00 238266.92
TOTALS 885491.02 885491.02
BANK 1 TOTAL BANK TRANSFER FROM
BANK 1 TOTAL BANK TRANSFER TO
442745.51
442745.51
GLBANKO1 Thu Feb 25, 2021 11:24 AM
12.08.20
City of Riverdale IA
GENERAL LEDGER SUMMARY
CALENDAR 2/2021, FISCAL 8/2021
OPER: KE
JRNL:1912
PAGE 2
ACCOUNT NUMBER ACCOUNT TITLE DEBITS CREDITS NET
110-000-1110 ROAD USE -CHECKING .00 165,000.00 165,000.00-
110-910-6910 ROAD USE -TRANSFER OUT 165,000.00 .00 165,000.00
121-000-1110 LOST -CHECKING .00 277, 745.51 277,745.51-
121-910-6910 LOST -TRANSFER OUT 277,745.51 .00 277,745.51
301-000-1111 CAPITAL IMPROVE LEVY -CHECKING 24,464.05 .00 24,464.05
301-910-4830 CAP IMPROVE-MRT PH 2 TRANS IN .00 24,464.05 24,464.05-
302-000-1110 ROAD REPLACEMENT -CHECKING 403,266.92 .00 403,266.92
302-910-4830 ROAD REPLACE -TRANSFER IN .00 403,266.92 403,266.92-
304-000-1110 CAP PROJECT 2011 -CHECKING 15,014.54 .00 15,014.54
304-910-4830 CAP PROJECT 2011 -TRANSFER IN .00 15,014.54 15,014.54 -
TRANSACTION TOTALS
FUND NAME
110 ROAD USE TAX
121 LOCAL OPTION SALES TAX
301 CAPITAL RESERVE
302 ROAD REPLACEMENT
304 2011 CAPITAL PROJECT(BOND
885,491.02 885,491.02 .00
DEBITS CREDITS
165,000.00
277,745.51
24,464.05
403, 266.92
15,014.54
165,000.00
277,745.51
24,464.05
403, 266.92
15,014.54
TOTALS 885,491.02 885,491.02
Thu Feb 25, 2021 11:24 AM BANK CASH REPORT
2021
Page 1
BANK NAME JANUARY FEBRUARY FEBRUARY FEBRUARY OUTSTANDING FEB BANK
FUND GL NAME CASH BALANCE RECEIPTS DISBURSMENTS CASH BALANCE TRANSACTIONS BALANCE
QUAD CITY BANK & TRUST
BANK QUAD CITY BANK & TRUST
001 GENERAL FUND -CHECKING 423,537.37 8,458.79 60,529.17 371,466.99
001 GENERAL RESERVE -CHECKING 51,120.92 0.00 0.00 51,120.92 90,008.79
110 ROAD USE -CHECKING 227, 455.23 0.00 177, 220.67 50, 234.56 12, 537.86
111 I -JOBS -CHECKING 0.00 0.00 0.00 0.00
121 LOST -CHECKING 563,579.74 0.00 277,745.51 285,834.23
125 TIF-CHECKING 263,143.91- 0.00 33,710.50 296,854.41- 33,810.50
126 TIF 2 -CHECKING 0.00 0.00 0.00 0.00
127 TIF 3 -CHECKING 0.00 0.00 0.00 0.00
128 TIF 4 -CHECKING 0.00 0.00 0.00 0.00
150 FIRE AWARDS -CHECKING 96.32 0.00 0.00 96.32
200 DEBT SERVICE -CHECKING 235,022.92 0.00 0.00 235,022.92
300 CAP IMPROVE -CHECKING 73, 368.70 0.00 0.00 73, 368.70
301 CAPITAL RESERVE -CHECKING 130,753.96 0.00 4,330.00 126,423.96
301 CAPITAL IMPROVE LEVY -CHECKING 24,464.05- 24,464.05 0.00 0.00
301 CAP IMPROVE RESERVE -CHECKING 102,195.44 0.00 0.00 102,195.44 4,330.00
302 ROAD REPLACEMENT -CHECKING 403,266.92- 403,266.92 0.00 0.00
302 ROAD REPLACE RESERVE -CHECKING 51,097.74 0.00 0.00 51,097.74
303 FIRE EQUIP/REPLACE-CHECKING 41,407.29 0.00 0.00 41,407.29
303 FD REPL RESERVE -CHECKING 51,097.74 0.00 0.00 51,097.74
304 CAP PROJECT 2011 -CHECKING 15,014.54- 15,014.54 0.00 0.00
610 SEWER -CHECKING 127,147.41- 3,496.16 31,473.04 155,124.29- 32,577.20
611 SEWER CAP PROJECT -CHECKING 29,245.61- 0.00 0.00 29,245.61 -
DEPOSITS
12,150.37
1,119,256.48
QUAD CITY BANK & TRUST TOTALS 1, 088, 450.93 454, 700.46 585, 008.89 958,142.50 161,113.98 1,119, 256.48
TOTAL OF ALL BANKS 1, 088, 450.93 454, 700.46 585, 008.89 958,142.50 161,113.98 1,119, 256.48
BKCASHRP 12.08.20
City of Riverdale IA
OPER: KE