14-038 - 05-06 - Authoring Transfer of Funds Resolution 14-38 May 6, 2014
Member Fonnest introduced the following resolution and moved its adoption:
RESOLUTION AUTHORIZING THE TRANSFER OF $890,000 FROM THE
GENERAL FUND TO THE CAPITAL IMPROVEMENT FUND OF $500,000, WORKERS
COMPENSATION FUND OF $200,000, BUILDING FUND OF $50,000 AND.EQUIPMENT
REPLACEMENT FUND OF $140,000
WHEREAS, the transfer of$500,000 to the Capital Improvement Fund would cover
costs for land purchases and
WHEREAS, the transfer of $200,000 to the Workers Compensation Fund would
fund costs to pay for future premiums for Workers Compensation, and
WHEREAS, the transfer of$50,000 to the Building Improvement to Review locations
of current fire stations, response time and number of available firefighters for response,
and
WHEREAS, the transfer of$140,000 to the Equipment Replacement Fund to help
stabilize future equipment certificates when fire pumpers are purchased, and
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Golden
Valley to authorize the transfer of $890,000 from the General Fund to the Capital
Improvement Fund ($500,000), Workers Compensation Fund ($200,000), Building Fund
($50,000) and Equipment Replacement Fund ($140,000).
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She rd M. Harris, Ma or
ATTEST:
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Kristine A. Luedke, 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,
Fonnest, Harris, Schmidgall and Snope; 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.