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RESOLUTION NO. 8699 CITY OF MOUNDS VIEW COUNTY OF Ramsey State of Minnesota APPROVING TRANSFERS BETWEEN FUNDS FOR 2016 WHEREAS, the City has adopted budgets for various funds for 2016, the budgets include inter-fund transfers for various purposes; and WHEREAS, it is possible to adjust some of the transfers from the originally budgeted amounts; and WHEREAS, the General fund saw favorable operating results providing an opportunity to restore some of the fund balance in the Special Projects Fund; and WHEREAS, residual amounts remain in the debt service fund after the bonds have been retired and City code requires that any remaining amounts be transferred to the benefited capital project fund; and WHEREAS, the Water Enterprise fund has experienced significant activity over the past five years to catch up on deferred maintenance, discontinuing on a temporary basis outgoing transfers will allow the fund to rebuild cash reserves. NOW THEREFORE, BE IT RESOLVED by the City Council of the City of Mounds View that the following transfers for the calendar year 2016 are hereby approved up to the amounts listed in the Actual column: From To Budget Actual Water Fund General Fund $73,619 $ - Sewer Fund General Fund 58,309 58,309 Street Light Fund General Fund 2,612 2,612 Storm Water General Fund 7,604 7,604 Vehicle & Equipment General Fund 22,000 22,000 General Fund Community Center 170,000 170,000 General Fund Special Projects 75,000 375,000 General Fund EDA 50,000 50,000 General Fund Vehicle & Equipment 150,000 150,000 Water Fund Vehicle & Equipment 64,000 - Sewer Fund Vehicle & Equipment 42,000 42,000 Storm Water Fund Vehicle & Equipment 32,000 32,000 Water Fund Street Improvement 25,000 - Fund Sewer Fund Street Improvement 140,000 140,000 Fund Storm Water Fund Street Improvement 75,000 75,000 Fund Vehicle & Equipment Sewer Fund 83,000 60,000 TIF District#5 EDA 75,331 75,331 Debt Service Street Improvement - 3,125 Fund Total $1,145,475 $1,262,981