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transfer $260,000 in addition to the budgeted $75,000 to meet this need. <br /> <br />Two transfers from the General Fund to the Special Projects Fund should be made. <br />The first was approved by the City Council in Resolution 6151, which positioned $43,745 <br />to be available in 2004 for the acquisition of the police records management system. <br /> <br />Second, is a transfer of $800,000 to get the General Fund’s balance down to the level <br />recommended by the Auditor. This also positions resources where the City Council can <br />best utilize them in the future on large capital projects. <br /> <br />Transfers from the TIF Districts to the EDA can be forgone in 2003 because large sums <br />were spent for the Edgewood Regional Pond in 2001, but the grants intended to cover <br />that spending didn’t come in. The grants were received in 2002, which then covers <br />other normal EDA spending in 2002 and 2003. No transfer from the TIF Funds to the <br />EDA Fund is needed in 2003. <br /> <br />The transfer from the TIF District #1 to the Bonds of 2001A is greater than budget <br />because it is calculated based upon a percentage of taxes collected on the Mermaid <br />and these were greater than expected. <br /> <br /> <br />Respectfully Submitted, <br /> <br /> <br />____________________ <br />Charles Hansen