04 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 2022, 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 $700,000 for street overlays and future Infrastructure Renewal Plan. The Step 5
goal was reached in 2021 but to further the city goals it will stay in for 2022. All transfers and
projects are outlined in the 2022-2031 Capital Improvement Plan.
CITY OF GOLDEN VALLEY
2022 - 2023 OPERATING BUDGET
DIVISION: Transfers Out (004) PROGRAM: Transfers Out (1025)
2019 2020 2021 2021 2022 2022 2023
OBJECT DESCRIPTION ACTUAL ACTUAL ADOPTED ESTIMATED CONCEPT PROPOSED CONCEPT
Transfers Out
7110 Permanent Transfers:
Permanent Transfers: $2,207,580 $2,567,580 $2,717,580 $2,717,580 $2,800,000 $2,800,000 $2,850,000
TOTAL Transfers $2,207,580 $2,567,580 $2,717,580 $2,717,580 $2,800,000 $2,800,000 $2,850,000
CITY OF GOLDEN VALLEY
2022 - 2023 OPERATING BUDGET
DIVISION: Transfers Out (004)
PROGRAM: Transfers Out (1025)
2019
2020
2021
2021 2022
2022
2023
OBJECT DESCRIPTION
ACTUAL
ACTUAL
ADOPTED
ESTIMATED CONCEPT
ADOPTED
CONCEPT
Transfers Out
7110 Permanent Transfers:
Permanent Transfers:
$2,207,580
$2,567,580
$2,717,580
$2,717,580 $2,800,000
$2,750,000
$2,850,000
TOTAL Transfers
$2,207,580
$2,567,580
$2,717,580
$2,717,580 $2,800,000
$2,750,000
$2,850,000