08 - Transfers OutTRANSFERS OUT
Transfers are one of the main sources of financing the Building and Park Improvement Funds
as part of the City's Capital Improvement Program (CIP).
In 2018, an additional transfer of $882,580 was added to make debt service payments for
equipment certificates. The last equipment certificate will come due in 2021. Equipment will be
paid for with the transfer from the General Fund to the Equipment Replacement Fund.
In 2021, transfers include $500,000 for the building improvement fund, $35,000 for the
remaining amount for a comprehensive building study, $400,000 to the park improvement
fund, and $650,000 for street overlays. The goal of the city would be to reach Step 5 with the
Green Step Cities. This transfer of $50,000 for three years starting in 2020 would help us
reach that goal. All transfers and projects are outlined in the 2021-2030 Capital Improvement
Plan.
CITY OF GOLDEN VALLEY
2021 - 2022 OPERATING BUDGET
DIVISION: Transfers Out (004)
PROGRAM: Transfers Out (1025)
2018
2019
2020
2020 2021
2021
2022
OBJECT DESCRIPTION
ACTUAL
ACTUAL
ADOPTED
ESTIMATED CONCEPT
ADOPTED
CONCEPT
Transfers Out
7110 Permanent Transfers:
Permanent Transfers:
$3,497,173
$2,207,580
$2,567,580
$2,567,580 $2,682,580
$2,717,580
$2,800,000
TOTAL Transfers
$3,497,173
$2,207,580
$2,567,580
$2,567,580 $2,682,580
$2,717,580
$2,800,000