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CITY OF LITTLE CANADA <br />RESOLUTION NO. 2011-12- <br />AUTHORIZING CLOSING OF THE FUNDS SPECIFIED BELOW, INITIATE <br />'TRANSFERS TO THE NOTED FUNDS, AND ADJUST THE GENERAL FUND <br />OPERATING BUDGET EFFECTIVE DECEMBER 31, 2011 <br />WHEREAS, each year staff evaluates existing funds and identifies those funds in which <br />all activity has concluded and obligations have been satisfied; and <br />WHEREAS, Capital Project and Special Revenue funds should be closed when all <br />activity has concluded; any residual money and all assets should be transferred to the <br />associated debt service fund or a capital project fund reserved for public projects and if a <br />deficit exists, funding must be provided; and <br />WHEREAS, year -end housekeeping budget adjustments and accounting changes are <br />identified as the City closes the prior accounting year. <br />NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Little <br />Canada hereby approves the transfer of any funds as noted, but subject to closing <br />adjustments as needed: <br />FUND <br />AMOUNT TO /FROM <br />SEE ATTACHED MATRIX <br />NOW, THEREFORE, BE IT FURTHER RESOLVED by the City Council of the City <br />of Little Canada that the above referenced transfers shall be effective December 31, 2011. <br />Those voting in favor: <br />Those voting against: <br />Resolution adopted this 218' day of December, 2011. <br />Attest: <br />Joel Hanson, City Administrator <br />9 <br />William Blesener, Mayor <br />EXHIBIT E <br />