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AGENDA ITEM 4B <br />STAFF ORIGINATOR Mary M. Vaske <br />DATE July 21, 1998 <br />TOPIC Resolution 98 -120 transferring funds from the General fund to the <br />Gas Utility Fund. <br />In the late 1980's, the City was researching into owning it's own gas utility. In 1997, the route <br />changed to investigate the option of collecting franchise fees from gas utilities other than Circle <br />Pines. The City currently receives about $40,000 from Circle Pines each year. <br />Because the City changed it's course, the fund should be closed as it will not be an enterprise <br />fund. The expenses to date are for legal help in exploring the option of franchise fees. <br />As the franchise fees from Circle Pines have been deposited in the General Fund, this seems <br />the logical fund to transfer from. <br />This is a recommendation in the 1997 audit management report. <br />1. Adopt Resolution 98 -120 <br />2. Reject the resolution as presented. <br />Option 1 <br />