HomeMy WebLinkAbout2014-04-16 PACKET 04.E.REQUEST OF CITY COUNCIL ACTION COUNCIL AGENDA
MEETING ITEM # �
DATE 4-16-14
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PREPARED BY Finance Robin Roland
ORIGINATING DEPARTMENT STAFF AUTHOR
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COUNCIL ACTION REQUEST
Adopt resolutions approving interfund transfers and the closing of funds.
STAFF RECOMMENDATION
Adopt resolutions approving interFund transfers and the closing of funds.
BUDGET IMPLICATION
BUDGETED AMOUNT
ADVISORY COMMISSION ACTION
❑ PLANNING
❑ PUBLIC SAFETY
❑ PUBLIC WORKS
❑ PARKS AND RECREATION
❑ HUMAN SERVICES/RIGHTS
❑ ECONOMIC DEV. AUTHORITY
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SUPPORTING DOCUMENTS
� MEMO/LETTER:
� RESOLUTION:
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❑ ENGINEERING RECOMMEN
❑ LEGAL RECOMMENDATION:
❑ OTHER:
DATE
REVIEWED
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ACTUALAMOUNT
APPROVED
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DENIED
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DATION:
ADMINISTRATORS COMMENTS:
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ity Administrator Date
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COUNCIL ACTION TAKEN: ❑ APPROVED ❑ DENIED ❑ OTHER
G:\financelCouncil Items120141CC Action Interfund Transfers Closed Funds.doc
Cottage
/ Grove
� Pride andQ�OSPerity Meet
To: Mayor and City Council Members
Ryan Schroeder, City Administrator
From: Robin Roland, Finance Director �
Brenda Malinowski, Assistant Finance Director
Date: April 4, 2014
Subject: 2013 interfund loans and closed funds
Background
The Council is requested to consider resolutions approving interfund loans and transfers for 2013. These
transactions will be included in the 2013 financial statements and audited as such.
Action Requested
The council is asked to adopt the two attached resolutions. The first resolution authorizes the interfund
transfers and the second resolution closes funds.
RESOLUTION NO. 14-
RESOLUTION APPROVING INTERFUND TRANSFERS BETWEEN FUNDS
WHEREAS, certain interFund transfers have been determined to be necessary in the
completion of the 2013 financial statements.
NOW THERFORE BE IT RESOLVED, by the City Councii of the City of Cottage Grove,
County of Washington, State of Minnesota, that the foliowing interfund transfer be made:
From To Amount
230-Storm Water 560-Pavement Management $70,186.49
Maintenance Utilit Fund Construction Fund
610-Water Enterprise Utility 560-Pavement Management $35,815.13
Fund Construction Fund
620-Sewer Enterprise Utility 560-Pavement Management $82,256.80
Fund Construction Fund
Transfer for utility activities completed as part of the 2013 $188,258.42
pavement management.
Passed this 16th Day of April, 2014.
Myron Bailey, Mayor
Attest:
Caron M. Stransky, City Clerk
RESOLUTION NO. 14-
RESOLUTION AUTHORIZING CLOSING CERTAIN FUNDS
WHEREAS, certain funds are no longer needed to account for City resources and may
be closed.
NOW THERFORE BE IT RESOLVED, by the City Council of the City of Cottage Grove,
County of Washington, State of Minnesota, that the following funds are closed, and cash
balances be transferred as follows:
Fund Closed From: Fund Closed To: Amount
541-Gateway Improvement Fund 500-Completed Construction Fund 253,469.45
Close fund because construction activities are com lete.
566-2007 Improvement Fund 500—Completed Construction Fund
Close fund because construction activities are com lete includin final streets 48,648.72
Passed this 16jh Day of April, 2014
Myron Bailey, Mayor
Attest:
Caron M. Stransky, City Clerk