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HomeMy WebLinkAboutResolution No. 2010-081 RESOLUTION NO. 2010-81 AUTHORIZE CERTAIN INTERFUND TRANSFERS WHEREAS, the City of Columbia Heights reports its financial information under standards issued by the Governmental Accounting Standards Board (GASB); and WHEREAS, the implementation by the City of the recently issued GASB reporting standard identified as Statement 54 requires combining certain City funds previously reported separately; and WHEREAS, the purposes for which certain other City funds were created and maintained have been satisfied or expired; and WHEREAS the City of Columbia Heights and its component unit - the Economic Development Authority - have determined it advantageous and cost - effective to consolidate funds with redundant purposes and to account for any given parcel of land held for resale under as few funds as possible; and WHEREAS the City of Columbia Heights has determined it advantageous and cost-effective to effect certain other miscellaneous transactions to maintain its financial reporting system; BE IT HEREBY RESOLVED by the City Council of the City Of Columbia Heights, that the City of Columbia Heights authorizes the interfund transfers listed in the attached Exhibit A, effective December 31, 2010. [This space intentionally left blank.] Resolution 2010 -81 Exhibit A Effective 12/31/2010 Transfer From Fund Transfer To Fund Amount/Item Reason 270 Police Community Programs 101 General Fund Residual cash Close Fund 270 for GASB 54 est $48,000 405 Downtown Parking Maintenance 101 General Fund Residual cash Close Fund 405 for GASB 54 est $135,000 414 Parkview Villa South Building Fund 411 Gen Govt Bldgs Fund $30,455 Close Fund 414 for GASB 54 (A City fund, not an HRA fund) 401 Capital Improvement 430 Infrastructure Fund Residual cash Close Fund 401 for GASB 54 est $80,000 418 Community Ctr (Gym) Building Fund 411 Gen Govt Bldgs Fund Residual cash Close Fund 418 for GASB 54 est $620,000 410 Sheffield Redevelopment (Non -TIF) 420 Capital Imp Redevelopment Residual cash Close Fund 410 for GASB 54 est $348,000 408 EDA Housing Maint Fd 420 Capital Imp Redevelopment Residual cash Consolidate redundant funds est $227,000 411 General Govt Buildings Fund 408 EDA Housing Maint Fd $600,000 Reference resolution 2008 -67 204 EDA Adminstation 408 EDA Housing Maint Fd Land for resale Consolidate land held for resale 204 EDA Adminstation 408 EDA Housing Maint Fd ($400,000) and related interfund loan 202 Anoka County Comm Dev Prog 408 EDA Housing Maint Fd Land for resale Consolidate land held for resale 315 Sullivan Shores 2008A Bonds 101 General Fund $37,500 transfer admin fee 315 Sullivan Shores 2008A Bonds 204 EDA Administration $37,500 transfer admin fee 411 General Govt Buildings Fund 450 Library Building Fund $12,262 Working capital per resolution 95 -40 883 Contributions - Other 450 Library Building Fund $43,242 Working capital per resolution 95 -40 226 Special Projects Fund 701 Central Garage Fund $42,000 Reclassify garage antenna lease 720 Info Systems - Operating Fund 437 Info Systems - Capital Fund $535,000 Segregate capital from operating 420 Capital Imp Redevelopment 415 PIR Fund $150,000 Finance 3930 University abatements Passed this 13th day of September, 2010 Offered by: Nawrocki Seconded by: Diehm Roll Call: Ayes: Peterson, Williams, Nawrocki, Diehm, Kelzenberg 4 Mayor Gary L. ' terson Attest. /, • •,, ' atricia Muscovitz, • C City Cle k