Agenda Packets - 2014/01/27 - Laserfiche WebLink

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Item No. 7.D MO _ _ Meeting Date: January 27, 2014 Type of Business: Council Business Administrator Review: %! City of Mounds View Staff Report Honorable DirectorFrom: Mark Beer, Finance ResolutionItem Title/Subject: .. Between for 2013 The City Council included a variety of transfers between funds as part of the 2013 budget. They are listed in the attached resolution in the Budget column. Resolution 8203 formally authorizes the listed transfers between funds in the Actual column for the year 2013. Some of the transfers can be adjusted. The transfer from the Special Projects Fund ($45,000) to the General Fund can be cancelled to preserve fund balance in the Special Projects Fund. The intent of this transfer was to off -set the cost of capital purchases that are not included with the listed equipment in the Vehicle and Equipment fund. There were no significant capital purchases this year that were not covered by the Vehicle and Equipment fund and not all capital purchases were made thus the reduction in the transfer to the General Fund. Transfers from the General Fund to the Community Center fund can be reduced by $25,000 due to increased revenues in the Community Center Fund. Transfers from TIF Districts 1, 2, and 3 to support the EDA operations and projects can be reduced to $25,000 each, some of the budgeted activities in the EDA fund did not occur thus reducing the need for a higher transfer amount. Transfers from TIF District 5 to the EDA fund should be adjusted to correspond to 5% of the increment available to be paid. Staff is recommending approval of resolution 8203 approving transfers between funds. Respectfully Submitted, Al Mark Beer —\_