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11-12-19-R
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11-12-19-R
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CONSENT ITEM — 6B <br />,--ARZEN HILLS <br />MEMORANDUM <br />DATE: November 12, 2019 <br />TO: Honorable Mayor and City Councilmembers <br />Dave Perrault, City Administrator <br />FROM: Gayle Bauman, Finance Director <br />SUBJECT: Transfer Funds to Cover City Share of Hamline Avenue Crosswalks Project <br />Budgeted Amount: Actual Amount: Funding Source: <br />N/A N/A N/A <br />Council Should Consider <br />Motion to transfer $60,000 from the General Fund to the Capital Improvement (PIR) Fund and <br />authorize the Finance Director to complete all corresponding budget adjustments. <br />Discussion <br />When this project was brought to the council back in January and February of 2019, it was <br />anticipated that it would be completed in 2019 and the city would utilize funds from the 2019 Street <br />Maintenance budget in the General Fund to pay for their share. This project is now slated to be <br />completed in 2020 and, in order to utilize those 2019 budget dollars, the funds need to be transferred <br />out of the General Fund in 2019 and moved to a capital fund, in this case, the PIR Fund where they <br />will be used for the project in 2020. <br />Budget Impact <br />This has no effect on the current budget, as the use of General Fund dollars was already anticipated <br />based on actions taken earlier this year. <br />Attachments <br />None <br />
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