22-043 (04-19) Unassigned Fund BalanceRESOLUTION NO. 22-043
RESOLUTION ASSIGNING FUND BALANCE OF $224,499 FOR GENERAL FUND
PROGRAMS AND TRANSFER $45,000 TO THE EQUIPMENT FUND
WHEREAS, the General Fund Reserves meets 60% of 2022 expenditures, and
WHEREAS, per Resolution 11-82 states that staff will review with the Council any
amounts above the 60% and recommend proposed uses of the funds, and
WHEREAS, in 2021, permit revenue was above budget and various expenditures
from various departments in the amount above the 60% is $309,785, and
WHEREAS, the amount of $224,499 will stay in the General Fund to fund the
following: Diversity, Equity, Inclusion and Belonging; Leadership Development; City-Wide
Training; Employee Resource Groups; Equity Data Dashboard; Peace Training; Land
Acknowledgement; and Police Recruitment, and
WHEREAS, the transfer of $45,000 to the Equipment Replacement Fund to fund
technology needs in the Public Safety Building and
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Golden
Valley to authorize the transfer of $45.000 from the General Fund to the Equipment
Replacement Fund.
Adopted by the City Council of Golden Valley, Minnesota this 19th day of April 2022.
Maurice Harris, Mayor Pro Tempore
ATTEST:
Theresa Schyma, City Clerk
DocuSign Envelope ID: 62244B08-21C3-4E85-B432-7AE67D3DD68F
Over %
2021 December YTD (Under)Of Budget
Budget Actual Actual Budget Expend.
001 Council $410,650 46,647 373,285 ($37,365)90.90%
003 City Manager 1,105,490 221,789 1,102,027 (3,463)99.69%
004 Transfers Out 2,717,580 0 6,167,580 3,450,000 226.95%(1)
005 Admin. Services 2,289,175 313,259 2,303,690 14,515 100.63%
006 Legal 208,135 447,323 235,233 27,098 113.02%
007 Risk Management 350,000 (61,110)269,420 (80,580)76.98%
011 General Gov't. Bldgs.754,260 104,728 791,568 37,308 104.95%
016 Planning 385,205 70,832 412,822 27,617 107.17%
018 Inspections 827,555 148,099 796,521 (31,034)96.25%
022 Police 6,826,630 1,057,009 6,172,463 (654,167)90.42%
023 Fire 1,693,855 273,504 1,448,740 (245,115)85.53%
035 Physical Dev Admin 330,495 57,047 324,003 (6,492)98.04%
036 Engineering 622,770 92,826 559,124 (63,646)89.78%
037 Streets 2,346,525 301,815 2,305,329 (41,196)98.24%
066 Park & Rec. Admin.872,740 141,353 865,282 (7,458)99.15%
067 Park Maintenance 1,380,865 192,966 1,403,902 23,037 101.67%
068 Recreation Programs 410,765 16,873 135,206 (275,559)32.92%
099 Contingencies 0 0 0 0 (2)
TOTAL Expenditures $23,532,695 $3,424,960 $25,666,195 $2,133,500 109.07%
(1) Transfers were made in July 2021 but made transfer to Equipment Fund in Jan, 2021.
Assignment of Fund Balance -$2,450,000 debt service
Assignment of Fund Balance -$1,000,000 building fund
(2) Contigencies will be reallocated by December 2021.
City of Golden Valley
Quarterly Budget Report - General Fund Expenditures
December 2021 (unaudited)
Division
100.00%
Over %
2021 December YTD (Under)of Budget
Type Budget Actual Actual Budget Received
Ad Valorem Taxes $20,151,285 9,907,936 20,293,722 $142,437 100.71%(1)
Licenses 258,895 248,595 248,595 ($10,300)96.02%
Permits 984,000 140,016 1,373,866 $389,866 139.62%
Governmental Agencies Aid
Police 27,000 0 29,169 $2,169 108.03%
Fire 11,685 1,160 23,516 $11,831 201.25%
Housing 4,280 $4,280
Charges For Services:
General Government 21,260 181 17,780 ($3,480)83.63%
Public Safety 164,350 5,103 57,890 ($106,460)35.22%(4)
Public Works 179,300 28,765 201,379 $22,079 112.31%
Park & Rec 420,300 12,731 239,864 ($180,436)57.07%
Other Funds 766,500 212,670 805,260 $38,760 105.06%
Fines & Forfeitures 165,000 14,720 127,095 ($37,905)77.03%
Interest On Investments 150,000 (63,306)(63,306)($213,306)-42.20%(2)
Miscellaneous Revenue 203,120 19,285 208,743 $5,623 102.77%
Transfers In 30,000 7,500 30,000 $0 100.00%(3)
TOTAL Revenue $23,532,695 $10,535,356 $23,597,853 $65,158 100.28%
Notes:
(1) Payments are received in July, December, and January (delinquencies). First 1/2 is higher due to some full paymen
(2) Investment income allocated at year end.
(3)Transfers are monthly.
(4) No SRO Revenue from ISD 281.
Percentage Of Year Completed
City of Golden Valley
Quarterly Budget Report - General Fund Revenues
December 2021 (unaudited)