Laserfiche WebLink
Mounds View City Council March 14, 2005 <br />Regular Meeting Page 15 <br /> <br />H. Resolution 6477 Approving Transfers Between Funds for the Year 2004. 1 <br /> 2 <br />Finance Director Hanson stated the proposal before the Council was necessary to close out the 3 <br />year for 2004. He stated that many of the transfers are for the amounts that were budgeted for, 4 <br />but there are some differences. He noted that a transfer to a debt service fund would be paid 5 <br />from T.I.F. District #3 instead of T.I.F. District #1 as was budgeted due to T.I.F. District #1 6 <br />being in a deficit position. He stated the General Fund would show a surplus of between $50,000 7 <br />and $100,000. 8 <br /> 9 <br />Council Member Stigney asked for an explanation of the paragraph regarding the general fund 10 <br />reduction. 11 <br /> 12 <br />Finance Director Hanson remarked that the surplus of $50,000-$100,000 is an adequate fund 13 <br />balance for year end, and it’s in the City’s better interest to leave some money in the other funds. 14 <br />He stated that the golf course was not the only fund that benefited from a reduction; the vehicle 15 <br />and special projects fund also had reductions in their proposed transfers. 16 <br /> 17 <br />Council Member Stigney asked whether the whole purpose was so they didn’t exceed the 50 18 <br />percent threshold. 19 <br /> 20 <br />Finance Director Hanson stated they were trying to avoid getting back into the situation of having 21 <br />more money in the general fund than they really need. 22 <br /> 23 <br />Council Member Stigney stated he had a problem with the $15,000 remaining in the golf course 24 <br />fund. 25 <br /> 26 <br />MOTION/SECOND. Marty/Gunn. To waive the reading and adopt Resolution 6477 27 <br />Approving Transfers Between Funds for the Year 2004. 28 <br /> 29 <br /> Ayes-4 Nays-1 (Stigney) Motion carried. 30 <br /> 31 <br />10. APPROVAL OF MINUTES 32 <br /> 33 <br />A. February 28, 2005 City Council Minutes. 34 <br /> 35 <br />Council Member Gunn made a correction to page 1, line 33, “Barb Haake”. 36 <br /> 37 <br />Council Member Gunn made a correction to page 7, line 40, “Dazenski”. 38 <br /> 39 <br />Council Member Gunn made a correction to page 9, line 31, “software”. 40 <br /> 41 <br />Council Member Gunn made a correction to page 2, lines 5 and 9, “Siercks.” 42 <br /> 43 <br />Council Member Stigney made a correction to page 11, line 41, to change the word appropriate 44 <br />to “allocate”. 45