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TO: Mayor & Council <br />FROM: Don Brager, Finance Director - Treasurer <br />Mary Saarion, Director of Parks, Recreation, & Forestry <br />DATE: April 12, 1990 <br />SUBJECT: Cash Balance of the Park Improvement Fund <br />During a review of the Mounds View Business Park Construction <br />Fund this March it was discovered that the cost of curb and <br />gutter and paving of the Silver View Park parking lot were <br />inadvertantly charged to the Business Park Construction Fund. <br />The work on the parking lot was a change order to the contract <br />with C.W. Houle for public improvements at the Business Park. <br />The total contract was in excess of $800,000. The charges of <br />$54,990.69 for the parking lot were two lines on page 8 of a <br />15 page invoice. They were not noticed until the final costs <br />of the contract for the Business Park improvements were compared <br />to budget and found to be over budget. The reason for the the <br />contract being over budget was the change order for the Silver <br />Park parking lot work. These costs should have been paid for <br />with money from the Park Improvement and General Funds. The <br />General Fund's share of the parking lot paving had been included <br />in the 1989 Budget and money had already been transferred from <br />the General Fund to the Park Improvement Fund. To correct this <br />situation money was transferred from the Park Improvement Fund <br />to the Mounds View Business Park Construction Fund to reimburse <br />it for the costs of the Silver View Park parking lot. <br />This matter is being brought to your attention because prior to <br />our becoming aware of the fact that the costs of the parking lot <br />were iradvertantly charged to the Mounds View Business Park <br />Construction Fund information was given to you on the cash <br />balance of the Park Improvement Fund. That cash balance has been <br />reduced by $54,990.69, the cost of paving the Silver View Park <br />parking lot. The cash balance of the Fund as of March 31, 1990 <br />is $38,605.95. Costs of the park shelter had been paid prior to <br />March 31 and the donations for the shelter from the Mounds View <br />Lions and the New Brighton Eagles had also been received prior <br />to March 31. <br />Should you have any questions on this matter please do not <br />hesitate to contact us. <br />DB\MS\ts <br />