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<br />. <br />I. CITY OF ARDEN HILLS <br />. MEMORANDUM <br /> DATE: March 22, 1995 <br />. TO: Brian Fritsinger, City Administrator <br />I FROM:@Terrance Post, City Accountant <br />. SUBJECT: 1994 Operating Transfers <br />. By means of this 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 />. I. General Fund (101) Transfer to Municipal Buildings Fund (408) <br /> The adopted 1994 budget provided for a $118,750 operating transfer from the General <br />. 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 />.- 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 />I 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 />. , General Fund (10n Transfer to Diseased Shade Tree Fund (:224) <br /> J. <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 />I 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 />I 1994 Program Fund expenditures ($131,100) would exceed 1994 opera.ting 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 />.- <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 />