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<br /> I <br /> I. CITY OF ARDEN HILLS <br /> I MEMORANDUM <br /> DATE: March 22, 1995 <br /> I TO: Brian Fritsinger, City Administrator <br /> I FROM:@Terrance Post, City Accountant <br /> . SUBJECT: 1994 Operating Transfers <br /> . By means ofthis memorandum, I wish to document four fiscal year 1994 operating transfer <br /> situations and recommend that Council formally approve such 1994 fund operating transfers at <br /> the March 27,1995 Council meeting. <br /> . 1. General Fund (101) Transfer to Municipal Buildin~s Fund (408) <br /> The adopted 1994 budget provided for a $118,750 operating transfer from the General <br /> I Fund to the Municipal Land & Buildings Fund. As 1994 actual property tax revenue has <br /> met 1994 budget expectations, it is recommended that this budgeted transfer action occur. <br /> I- 2. Certificate ofIndebtness Fund No. (320) Transfer to PIR Fund (501) <br /> The adopted 1994 budget provided for a $26,075 operating transfer from the Certificate <br /> . of Indebtness No. I Debt Fund to the Permanent Improvement Revolving (PIR) Fund. <br /> Due to a small property tax shortfall, it is recommended that only $25,971.03 be <br /> transferred to the PIR Fund. <br /> I 3. General Fund (101) Transfer to Diseased Shade Tree Fund (224) <br /> The adopted 1994 budget provided for a $4500 operating transfer from the General Fund <br /> . to the Diseased Shade Tree Fund to subsidize operating losses of this special revenue <br /> fund. Because of the small volume of diseased tree removal on private property, 1994 <br /> expenditures are down significantly against 1994 planned expenditures. It is <br /> . recommended that $4000 be transferred from the General Fund. <br /> 4. Community Services Fund (225) Transfer to Program Fund (226) <br /> . The adopted 1994 budget provided for a $43,300 operating transfer to the Program Fund <br /> to subsidize operating losses of this special revenue fund. The 1994 budget assumed the <br /> . 1994 Program Fund expenditures ($131,100) would exceed 1994 operating revenues <br /> ($87,800) by $43,300. Preliminary results indicate an operating deficit of$19,596. It is <br /> recommended that $20,000 be transferred from the Community Services Fund to fund <br /> I this anticipated deficit. <br /> .. Staff Request <br /> If Council concurs with these operating transfer recommendations, they should consider <br /> formally approving them under the consent calendar for the March 27,1995 Council meeting. <br /> I <br /> ----- <br />