HomeMy WebLinkAboutResolution 6477
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RESOLUTION NO. 6477
CITY OF MOUNDS VIEW
COUNTY OF RAMSEY
STATE OF MINNESOTA
APPROVING TRANSFERS BETWEEN FUNDS FOR THE YEAR 2004
WHEREAS, the City adopted budgets for various funds for 2004 that included
inter-fund transfers for various purposes; and
WHEREAS, the it is possible to reduce transfers from several other funds to the
General Fund due to positive 2004 financial results in the General Fund; and
WHEREAS, the Economic Development Authority received state grants during
2002 in reimbursement of moneys spent in 2001 on the Edgewood Regional Pond and
so only a reduced transfer is needed from the Tax Increment Financing Districts in 2004;
and
WHEREAS, the T.I.F. debt service funds experienced higher than expected
costs for contractual services and so need higher than budgeted transfers from the
T.I.F. Districts; and
WHEREAS, the T.I.F. District #1 received higher tax payments than anticipated
from the Mounds View Business Center and is obligated to transfer them to the Bonds
of 2001A debt service fund; and
WHEREAS, the T.I.F. Bonds 96B are considered to be pooled debt of the T.I.F.
Districts and may be supported by any of the districts; and
WHEREAS, T.I.F. District #3 has adequate funds on hand whereas T.I.F. District
#1 is in a deficit condition, making it preferable to support the debt service from T.I.F.
District #3.
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Resolution 6477
Page 2
NOW THEREFORE, BE IT RESOLVED by the City Council of the City of Mounds
View that the following transfers for the calendar year 2004 are hereby approved in the
amounts listed in the Actual column:
From
Water Fund
Sewer Fund
Vehicle & Equip
Special Projects
Golf Course
General Fund
General Fund
Water Fund
Sewer Fund
T.I.F. Dist. #1
T.I.F. Dist. #3
T.I.F. Dist. #1
T.I.F. Dist. #2
T.I.F. Dist. #3
T.I.F. Dist. #1
T.I.F. Dist. #3
To
General Fund
General Fund
General Fund
General Fund
General Fund
Community Center
Vehicle & Equipment
Vehicle & Equipment
Vehicle & Equipment
Economic Dev. Auth.
Economic Dev. Auth.
T.I.F. Bonds 01A
T.I.F. Bonds 96A
T.I.F. Bonds 96A
T.I.F. Bonds 96B
T.I.F. Bonds 96B
Budgeted
Amount
$ 48,850
38,690
201,000
90,000
15,000
150,000
125,000
21,000
36,000
210,167
210,167
127,256
189,684
228,123
109,848
-0-
Actual
Amount
48,850
38,690
80,000
-0-
-0-
150,000
125,000
21,000
36,000
-0-
17,979
163,115
190,268
228,825
-0-
110,588
BE IT FURTHER RESOLVED thatthe 2004 budget for the T.I.F. District #3 Fund
be amended to increase Transfers to Debt Service Funds by $111,290.
Ro
ATTEST:
Kurt Ulrich, City Administrator
(seal)