HomeMy WebLinkAbout1999-035 Council ResolutioneMIXEC] E Mayor Sullivan introduced the following resolution and
move its adoption:
CITY OF LINO LAKES
RESOLUTION NO. 99-35
RESOLUTION DESIGNATING GENERAL FUND, FUND BALANCE
FOR THE YEAR ENDED DECEMBER 31, 1998
WHEREAS, fund balances need to be reserved or designated, and
WHEREAS, the City Council has determined priorities to reserve and designate funds, and
WHEREAS, the amount to reserve or designate is $3,383,887.00.
WHEREAS, the amount unreserved and undesignated is $27,444.00
NOW THEREFORE BE IT RESOLVED, that the following reservations and designations be
authorized effective December 31, 1998.
Reserved for prepaid items $ 98,453
Requirements per Res # 91-03
1) Cash Flow Reserve $1,696,600
2) Compensated Absences 214,857
3) General Contingency 761,335
subtotal $2,672,792
Discretionary
1) Designated for finance computer equipment $ 29,658
2) Designated for parks playground equipment 25,824
3) Designated for road reconstruction 33,730
4) Designated for LGA/HACAfunding losses 250,000
5) Designated for Civic Center Construction 100,000
6) Designated for custodian & equipment— Civic Center 30,000
7) Designated for technology at new City Hall 51,000
8) Designated for voting machines 24,000
9) Designated for bleacher replacement 25,000
10) Designated for Mallard Lane (Partial city share) 28,000
11) Designated for Wenzel Farm trail clearing 5,000
12) Designated for improvements to old City Hall 10,430
Total Reserved and Designated $3,383,887
Total Unreserved and Undesignated $ 27,444
Total Fund Balance $3,411,331
RESOLUTION NO. 99 - 35
Page 2
Adopted by the City Council of Lino Lakes this 24th day o May, 1999.
Marilyn G. Aderson, Clerk Treasurer
- Mayor
The motion for the adoption of the foregoing resolution was duly seconded by Council Member
Bergeson and upon vote being taken thereon, the following voted in favor thereof: Bergeson,
Dahl, Sullivan.
The following voted against same: Council Member Lyden. Council Member Neal was absent
Where upon said resolution was declared duly passed and adopted: