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interoffice <br /> MEMORANDUM <br /> to: Administrator Whiting, Mayor McCarty and Council Members <br /> from: Mary Saarion <br /> subject: Request authorization to transfer 1997 Festival in the Park revenues to Western Bank <br /> in the Festival, Inc account <br /> date: January 15, 1998 <br /> Festival in the Park activities for 1998 and in future years are being assumed by the newly formed <br /> Mounds View Festival, Incorporated Board of Directors and committee members. This group is <br /> responsible for the planning and implementation of the Festival in the Park annual community <br /> celebration. As a newly formed incorporation, it would be advantageous for them to have seed <br /> money available for expenses that must be arranged before revenues are realized, such as the <br /> reservation of the entertainment showmobile. Although to this date the fund is unaudited, the <br /> 1997 year end budget indicates that the Recreation Activity Fund programs of Festival and Parade <br /> have a profit of$1,828. Mounds View Festival, Inc. Board of Directors are requesting transfer <br /> of this money to Western Bank in a Festival Incorporated checking account. <br /> Recommendation: Authorize the transfer of$1,828 from the Recreation Activity Fund to Western <br /> Bank, Mounds View Festival Incorporated checking account. <br />