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HomeMy WebLinkAbout2015-54RESOLUTION NO. 2015-54 TRANSFERRING THE REMAINING 2014 GENERAL FUND SURPLUS OF $500,000 TO THE CAPITAL EQUIPMENT REPLACEMENT FUND 431, TO OFFSET THE COST OF THE FIRE TRUCK PURCHASE INCLUDED IN THE 2015 BUDGET WHEREAS, the City Council of the City of Columbia Heights has adopted by resolution 2014 -94, a 2015 budget calling for the purchase of a fire emergency vehicle; and WHEREAS, the estimated cost of $500,000 for this vehicle is significantly more than the average annual expenditures for all purposes from the Capital Equipment Replacement Fund 431; and WHEREAS, the City Council of City of Columbia Heights judges that it is financially prudent to sustain the fund balance in the Capital Equipment Replacement Fund 431 over the long term, for substantially all of the annual equipment purchases made for its governmental activities; and WHEREAS, an unassigned surplus of 2014 revenue over 2014 expenditures of approximately $500,000 remains currently held in the City of Columbia Heights General Fund; NOW, THEREFORE, BE IT RESOLVED that the 2015 City of Columbia Heights' budget is amended to appropriate an interfund transfer of $500,000 from the General Fund to the Capital Equipment Replacement Fund 431. Passed this 27th day of July, 2015 Offered by: Williams Seconded by: Murzyn, Jr. Roll Call: 4 Ayes, 1 Nay, Motion Carried Ayes: Peterson, Williams, Murzyn, Jr Nay: Nawrocki i0bL&"* Katie Bruno, City Clerk and Schmitt