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Meeting Date: 5/12/93 <br /> Agenda Item: C 3 <br /> CITY OF FALCON HEIGHTS <br /> REQUEST FOR COUNCIL CONSIDERATION <br /> ITEM DESCRIPTION: Operating Transfers <br /> SUBMITTED BY: Tom Kelly, Finance Director <br /> REVIEWED BY: Susan Hoyt, City Administrator <br /> EXPLANATION /SUMMARY: During the course of a fiscal year it is <br /> necessary to transfer money from one fund to another. At this <br /> time the following money transfers are being requested. <br /> $2,803.00 from Rescue Services to the General Fund; $8,116.00 to <br /> Park Program Fund and $27,000.00 to the Street Lighting Fund from <br /> the General Fund. These were budgeted transfers in the 1993 <br /> budget to balance these funds. <br /> $115,244.03 to the Infrastructure Fund from the 1982 Improvement <br /> Fund which closes the '82 Improvement Fund since all debt is now <br /> retired. $207,416.25 to the 85B Tax Increment Bond Fund <br /> (Stratford) from TIF District #1 Construction Fund; $20,000.00 to <br /> 1990 Hamline bonds from Hamline Construction Fund; $90,250.00 <br /> from General Capital Improvements, Fire Capital Improvements and <br /> Public Works Capital Improvements; $200.00 to the Recreation <br /> Scholarship Trust Fund from the General Fund. These transfers <br /> are necessary to maintain positive cash balances in these funds. <br /> Finally, $231,797 to the Infrastructure Fund from the General <br /> Fund to maintain a strong balance in the Infrastructure Fund for <br /> future projects. <br /> ATTACHMENTS: <br /> A. Memo from administrator, dated 7 May, 1993 <br /> B. Resolution #R- 93 -23, transferring funds <br /> #(.3 <br /> ACTION REQUESTED: Adopt Resolution transferring funds in <br /> the amount of $702,826.28 <br /> Consent `on enConsen Consen Consent onsen C onsent <br />