HomeMy WebLinkAbout22-190 - ADMIN Resolution - City Council - 2022/12/19Resolution No. 22-190
Resolution authorizing budget amendment and fund closure
Whereas, it is recommended to transfer an additional $500,000 of general fund balance
to the insurance fund for the watermain break program; and
Whereas, it is recommended to transfer $488,000 of general fund balance to the
employee benefit fund; and
Whereas, management has made accounting changes to the capital project funds; and
Whereas, it is recommended the capital project fund be split into 3 funds for accounting
purposes, IT capital replacement, building capital replacement, and vehicle and
equipment capital replacement; and
Whereas, $500,000 will be moved to the building capital fund and the remainder of the
fund balance will move to the IT capital fund; and
Now therefore be it resolved, by the St. Louis Park City Council:
Approval is hereby given to the finance director to make the following transfers
Transferring Fund Receiving Fund Amount
General Fund Insurance Fund $ 500,000
General Fund Employee Benefits Fund $ 488,000
Capital Fund Building Capital Fund $ 500,000
Capital Fund IT Capital Fund $1,905,569
Reviewed for Administration: Adopted by the City Council December 19, 2022
Kim Keller, city manager
Jake Spano, mayor
Attest:
Melissa Kennedy, city clerk
DocuSign Envelope ID: FA77D9DC-9D69-4BC3-8418-979F09A32ED5