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Lief oo v /e Wana% <br />MAYOR <br />Bill Blesener <br />COUNCIL <br />Rick Montour <br />John Stets <br />Michael McGraw <br />Shelly Boss <br />515 Little Canada Road, Little Canada, MN 55117 -1600 ADMINISTRATOR <br />(651) 766 -4029 / FAX: (651) 766 -4048 Joel R. Hanson <br />www. ci.little- canada. mn. us <br />MEMORANDUM <br />TO: Mayor Blesener and Members of the City Council <br />FROM: Sharon Provos, Finance Director <br />DATE: August 6, 2012 <br />RE: Budget Amendments <br />I learned after consulting with the City's previous Finance Director, Shelly Rueckert that <br />we need to make Budget amendments to reflect the impact of closing the HIA Project <br />Funds to Debt Service Funds at year -end 2011 and for the fiscal 2012 Budget. These <br />funds were reclassified by the City Council as Debt Service Funds in connection with the <br />GASB 54 fiend definition requirements at the end of 2011. <br />Attached is the adopted 2012 Budget showing HIA Funds 461/462/463. Also attached is <br />the amended budget placing the same dollars in the appropriate Debt Service Funds <br />345 /362 /375, respectively. <br />Staff recommends amending the 2012 Budget as presented. <br />