HomeMy WebLinkAbout24-074 - ADMIN Resolution - City Council - 2024/06/17
Resolution No. 24 - 074
Approving 2023 calendar year financial transfers to/out other funds
Whereas, the city’s general fund transfers in $700,000 out from the city’s COVID
fund related to 2023 ARPA expenditures as shown in Exhibit A; and
Whereas, the city’s Wayzata Blvd TIF district transfers in $2,744.08, Edgewood TIF
district transfers in $2,004.93, and Hart Coat TIF district transfers in $3,167.51 out from the
city’s development EDA in the amount of $7,916.52 related to the decertification of TIF
districts; and
Whereas, the city’s affordable housing trust fund transfers in $1,921,036.00 from
following redevelopment districts related to allowable transfers out of TIF to AHTF in 2023,
$2,620.00 Eliot Park TIF district, $279,809.00 Duke West End TIF district, $177,667.00 Park
Center Housing TIF district, $495,000.00 CSM TIF district, $630,000 Mill City TIF district,
$125,000.00 Wolfe Lake TIF district, and $210,940.00 Aquila Commons TIF district; and
Whereas, the city’s employee benefits internal service fund transfers in $800,000
out from the city’s general fund related to personal expenditures; and
Whereas, the city’s development EDA transfers in $911,180.20 out from Wooddale
Station TIF district related to uncollectable loans receivable (PLACE) and cost of acquisition
of land for development; and
Whereas, the city’s West 36th St / Woodale rehab street capital fund transfers in
$4,480,000.000 from Elmwood Village TIF district related to capital expenditures; and
Whereas, the city’s general fund transfers in $2,145,992.00 out from the city’s
enterprise funds, $659,894.00 water fund, $233,354.00 solid waste fund, $335,895 storm
water fund, and $916,849.00 sewer; and
Whereas, the city’s general fund transfers in $10,000 out from the permanent
improvement revolving fund; and
Whereas, the city’s Bridgewalk HIA debt service fund transfers in $326,278.36 out
from housing rehabilitation fund to cover debt service expenditures; and
Whereas, the city’s 2019C taxable GO HIA refunding debt service fund transfers in
$289,130.00 out from housing rehabilitation fund to cover debt service expenditures; and
Whereas, the city’s 2012A taxable GO HIA debt service fund transfers in $87,230.00
out from housing rehabilitation fund to cover debt service expenditures; and
Whereas, the city’s 2010C general obligation refunding debt service fund transfers in
$6,185.94 out from general obligation bond reserve debt service fund to cover debt service
expenditures; and
DocuSign Envelope ID: 2C29650E-FB8B-4B2D-A66C-C84A7D213F9A
Whereas, the city’s Hoigaard's 2010 A&B TIF notes debt service fund transfers in
$328,232.50 out from Elmwood Village Fund to cover debt service expenditures; and
Whereas, the city’s 2008B general obligation tax increment debt service fund
transfers in $578,875.02 out from Duke West End TIF Fund to cover debt service
expenditures; and
Whereas, the city’s housing rehabilitation fund transfers in $718,564.00 out from
the affordable housing trust fund related to covering expenditures in the rehab fund; and
Whereas, the city’s technology Internal Service Fund transfers in $151,840.00 out
from the city’s enterprise Funds, $37,960.00 from water fund, $37,960.00 from solid waste
fund, $37,960.00 from storm water fund, $37,960.00 from sewer utility fund; and
Whereas, the city’s general fund transfers in $9,774.00 out from the housing
rehabilitation fund; and
Whereas, the city’s municipal buildings internal service fund transfers in $500,000
out from the technology internal service to cover city building expenses,
Now therefore be it resolved by the City of St. Louis Park City Council that the 2023
calendar year financial transfers in/out be approved for the completion of the city’s annual
audit and annual comprehensive financial report for December 31, 2023.
Reviewed for administration: Adopted by the city council June 17, 2024:
Cindy Walsh, deputy city manager Nadia Mohamed, mayor
Attest:
Melissa Kennedy, city clerk
DocuSign Envelope ID: 2C29650E-FB8B-4B2D-A66C-C84A7D213F9A