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CITY OF CENTERVILLE <br />REQUEST FOR <br />COUNCIL ACTION <br />Agenda Item # Department: Requested Council Meeting Date: <br />April22,2020 <br />Administration/Finance <br />VIII.3 <br />TITLE OF ISSUE: <br />ResolutionTransferringEDAfundsoutofGeneralFund <br />BACKGROUND AND SUPPLEMENTAL INFORMATION: <br />StaffisbringingforwardaresolutiontransferringtheremainingbalancefromEDAoperationstoaseparate <br />fundasanticipatedbyMNStatutes469.096tokeeptrackofitsactivitiesseparatelyfromthegeneralcity <br />financialsystem.ThisrequiresthattheCityCouncilmoveEDAexpenditurescurrentlybeingtrackedinthe <br />city'sGeneralFundtobesegregatedintoaseparatefund. <br />COST AND SOURCE(S) OF FUNDING: <br />NoDirectCost-EDAbudgetpreviouslyapprovedwithannualGeneralFundbudget <br />REQUESTED COUNCIL ACTION: <br />StaffrecommendsthattheCityCouncilapprovetheattachedresolutionaspresented. <br />SUPPORTED DOCUMENTS ATTACHED <br />Motion By: ____________________________________ <br /> Resolution Ordinance Contract Minutes Plan Map <br />Second By: ____________________________________ <br />X <br />Vote Record: Aye Nay <br /> _____ <br />Other (specify) ____________ <br /> _____ _____ Love <br /> _____ _____Wilharber <br />ResolutionTransferringEDAfundsoutofGeneralFund <br />_______________________________________________________________ <br /> _____ _____ Koski <br />_______________________________________________________________ <br /> _____ _____ Montain <br />Administration Department Use: <br />Refer to: _________________________________ <br />Consent <br /> Tabled Until: ______________________________ <br /> Regular <br /> Other: ___________________________________ <br /> <br />