HomeMy WebLinkAboutResolution No. 2003-16 RESOLUTION NO. 2003-16
RESOLUTION RECLASSIFYING AND DESIGNATING FUND BALANCES
WHEREAS, the City of Columbia Heights has accumulated fired balances in the General Fund
and Special Revenue funds for the purpose of funding future capital improvements and capital
equipment within the City; and
WHEREAS, the City Council has established long-term development goals for the City of
Columbia Heights; and
WHEREAS, it is the intent of the City Council to provide funding for these long-term goals; and
WHEREAS, the current fund balances in the General Fund and Special Revenue funds would be
more appropriately accounted for in separate funds designated for the purpose in which they
were accumulated:
NOW, THEREFORE, BE IT RESOLVED that the following transfers and reclassifications be
made, effective December 31, 2002, to more appropriately classify fund balances in the City's
financial records:
From T....O.o Amount
General Fund Capital Building Fund $1,140,052
Special Revenue Funds
Library Capital Building Fund $ 200,000
Cable Television Capital Equipment Fund $ 300,000
Police Pension Consoli/PERA Capital Equipment Fund $ 238,056
Special Projects Capital Development Fund $ 50,000
HRA Capital Development Fund $ 140,000
Municipal State Aid Reclassify to Capital Section of the CAFR $ (725,704)
Parking Ramp Reclassify to Capital Section of the CAFR $ 726,636
Housing Mortgage Bonds Reclassify to Capital Section of the CAFR $ 491,785
NOW, THEREFORE, BE IT FURTHER RESOLVED that any unbudgeted, undesignated fund
balance in the Capital Equipment Replacement funds or Capital Improvement funds shall require
a four-fifths vote to expend or transfer funds.
Passed this 14th day of April 2003
Offered by:
Seconded by:
Roll Call:
Ericson
Kelzenberg
Ayes: Wyckoff, Williams, Nawrocki, Ericson, Kelzenberg
'P~trici~ Muscovitz, CI~IC, Deputy ~ty Clerk
~Y°r Juli~nne Wyck°ffu ~