CC PACKET 05271997 - Laserfiche WebLink

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To comply with the League's recommendations, St. Anthony designates its reserves for inclusion in the annual audit/financial report. Presentation of the auditors review of the 1996 accounting records is scheduled for the May 6th Council Worksession. Upon examination of the 1996 audited financial records, staff has documented the designation of all Fund Balance Reserves and is providing Council with the following information for review and approval: RECOMMENDATION: A) Council designate the following as Reserved/Restricted Use Funds: 1) #205 MSA Construction Fund 2) #225 Recycling & Beautification Fund 3) #230 Police Forfeiture/Dare Fund 4) #240 Crime Prevention Fund 5) #301 Housing & Redevelopment Fund 6) #503 Road Improvement Bond Fund 7) #504 Street Improvement Construction Fund 8) #601 Community Service Center Fund 9) #701 Water/Sewer Fund 10) #702 Stormwater Improvement Fund • 11) #704 Water Contamination Fund B) Council designate reserves totaling $ 7,000.00 from Falcon Heights contract to fund unanticipated unemployment costs. C) Council transfer contract reserves totaling $ 9,900.00 to fund #401 to fund 197 squad car. D) Council transfer contract reserves totaling $47,550.00 to fund #509 for future capital equipment purchases. E) Council designate reserves totaling$ 519.02 to replenish costs incurred for MPRS legal expenses (Total Reserves = $ 15,000.00). F) Council designate reserves totaling$15,905.74 to replenish costs incurred for Schnitzer legal expenses (Total Reserve = $ 50,000.00) G) Council designate reserves totaling $27,056.00 to fund Insurance Reserves. H) Council transfer reserves totaling $ 23,000.00 to fund #509 to increase funding for Underground Storage/Gas Tank Removal (Total Reserve = $ 46,000.00). • I) Council transfer reserves totaling$ 30,000.00 to fund#509 to establish funding for Pole Building for Salt/Sand Pile.