HomeMy WebLinkAboutResolution 2003-11 - Authoizing Allocation and Designation of Funds City of-Corcoran
County of Hennepin
State of Minnesota
RESOLUTION NO. 2003-11
Motion By: Thomas
Seconded By: Bucher
A RESOLUTION AUTHORIZING
THE ALLOCATION AND DESIGNATION OF FUNDS
WHEREAS,the Council of the City of Corcoran is diligently striving to achieve a reserve fund balance: and
WHEREAS,for Budget Year 2002,ending December 31,2002,the City's General Fund Balance contained a
positive balance of$258,086; and
WHEREAS,the City understands the importance of designating funds to maintain and meet the needs of the
community, as well as meeting the goals and policies established and defined by the Governing Bodies.
NOW THEREFORE,BE IT RESOLVED that the following fund transfers and designations be made and are
hereby apart of the year ending December 3 I,2002 audit.
Amount Fund No. Description of Fund
$ 168,804 # 100 General Fund Reserve(New fund balance of$570,269)
$ 181,501 #402 Implementation Plan,new fund created through the consolidation
of excess funds and re-designation of funds
$ 12,000 # 100 Fund Reserve—Designated for Compensated Absences
($ 74.304) #200 Park Fund(Close out to fund#415)
$ 74,304 #415 Park Capital Fund(From fund#200)
($ 4.934) #306 1995 Road Project(Closed to fund#305)
$ 4,934 #305 Asphalt Maintenance Fund(From fund#306)
($ 55.273) # 303 1992 Road Project(Closed Out to fund#402)
( $ 27) #501 Civic Funds(Allocate to Police Reserve fund#201)
$ 27 #201 Police Reserve Funds(Allocation from fund#501)
VOTING AYE VOTING NAY
x Bucher, John Bucher, John _
x Gageby, David Gageby, David
x Lymangood, Chuck Lymangood, Chuck
—
x Guenthner, Ken Guenthner, Ken _
x Thomas, Ron Thomas, Ron _
Whereupon, said Resolution is hereby declared passed
on this 13°' day of March, 2003.
Kenneth Guenthner, Mayor
ATTEST: ^2 ,
Kary Til ann, City Clerk City Seal