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ARDEN HILLS CITY COUNCIL - MAY 11. 1998 4 Mayor Probst clarified that the Ingersol-Rand and the LeRoi were not comparable air . compressors. The LeRoi brand had superior features and fit the needs of Staff. . . MOTION: Councilmember Malone moved and Councilmember Aplikowski seconded a motion to approve the purchase of a LeRoi brand, 250 CFM portable air compressor from Carlson Equipment Company in thc amount of$14,078.10, and place the current compressor at the State of Minnesota auction. The motion carried unanimously (5-0). B. Approval of Operations Transfers for 1997 Mr. Terrance Post, City Accountant, stated that the adopted 1997 Budget called for several operating transfers between funds. In November, 1997, the foIlowing budgeted operating transfers were booked: 1. 2. 3. 4. $ 16,300.00 $118,750.00 $ 10,000.00 $ 47,500.00 From General Fund No. 101 to Program Fund No. 226 From General Fund No. 101 to Municipal Buildings No. 408 From General Fund No. 101 to Capital Equipment No. 411 From General Fund No. 101 to Fire Equipment No. 412 The total transfer amount is $192,550.00 Mr. Post explained in addition to these budgeted operating transfers, Staffrecommcnds Council approval of the following operating transfer/debts payments. A. In light of the positive financial performance of the General Fund, increase the operating transfer from General Fund No. 101 to Capital Equipment Fund No. 411 an additional $18,500.00 to a total of $28,500.00, wbich is the samc level as prior years. B. Because ofthe Cleveland Avenue bridge reconstruction delays, transfer $48,000.00 of levied funds from General Fund No.1 01 to PIR Fund No. 501. These funds would then be transferred back from the PIR Fund to the General Fund at such a time when bridge funds would be required. C. In light of the positive financial performance of the General Fund, transfer an additional $181,250.00 from General Fund No. 101 to Municipal Building Fund No. 408. This action would be similar to the December 31, 1996 extraordinary operating transfer in the amount of$266,500.00. The result of this 1997 action would leave an approximate General Fund balance of $550,000 or approximately 24% of the budgeted 1997 expenditures. D. A $31,665.00 operating transfer from the Community Services Fund No. 225 to the Program Fund No. 226 was budgeted to subsidize the recreation program operating deficit. However, based upon positive Program Fund results, Staff recommends reducing the transfer to $23,000.00.