13-020 - 03-19 - authorizing transfer from general fund to capital improvement fund, employee benefits fund, equipment replacement fund, and building fund and assigning general fund balance for 2013 expenditures Resolution 13-20 March 19, 2013
Member Pentel introduced the following resolution and moved its adoption:
RESOLUTION AUTHORIZING THE TRANSFER OF $1,140,000 FROM THE
GENERAL FUND TO THE CAPITAL IMPROVEMENT FUND ($600,000),
EMPLOYEE BENEFITS FUND ($250,000), EQUIPMENT REPLACEMENT FUND
($100,000) AND BUILDING FUND ($190,000); AND ASSIGNING
GENERAL FUND BALANCE FOR 2013 EXPENDITURES ($60,000)
WHEREAS, the transfer of $600,000 to the Capital Improvement Fund would
finance costs for settlement of claim; and
WHEREAS, the transfer of $250,000 to the Employee Benefits Fund would fund
costs to retain employees, such as additional needs for State pension costs (Public
Employees Retirement Fund) and employee insurance; and
WHEREAS, the transfer of$190,000 to the Equipment Replacement Fund to help
stabilize future equipment certificates; and
WHEREAS, the transfer of$150,000 to the Building Improvement Fund for future
improvements to the building for combining the Inspections and Planning department to
provide customer service and a reader board to post upcoming events and news for the
community; and
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Golden
Valley to authorize the transfer of$1,140,000 from the General Fund to the Capital
Improvement Fund ($600,000), Employee Benefits Fund ($250,000), Equipment
Replacement Fund ($100,000) and Building Fund ($190,000) and assigning General Fund
Balance for 2013 expenditures ($60,000).
Shepar M. Harris, May r
ATTEST:
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Susan M. Virnig, City Clerk
The motion for the adoption of the foregoing resolution was seconded by Member Clausen
and upon a vote being taken thereon, the following voted in favor thereof: Clausen, Harris,
Pentel, Scanlon and Schmidgall; and the following voted against the same: none,
whereupon said resolution was declared duly passed and adopted, signed by the Mayor
and his signature attested by the City Clerk.