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CITY OF GEM LAKE, MN It. <br />4200 Otter Lake Road <br />( Gem Lake, Minnesota 55110 <br />RESOLUTION NO.2020-22 <br />15 DECEMBER 2020 <br />A RESOLUTION APPROVING THE TRANSFER OF CERTAIN FUNDS <br />WHEREAS, the City's 2020 budget included an operating transfer to finance future improvement <br />projects; <br />WHEREAS, the City has excess fund balance in the General Fund based on State Auditor <br />recommendations; <br />AND WHEREAS, the City has the Hoffman Road and Scheuneman Road Improvement Funds, <br />which have completed their activities and are no longer needed and have fund balances; <br />NOW, THEREFORE BE IT RESOLVED, that the City Council of the City of Gem Lake does <br />formally approve the following transfer of funds: <br />2020 Operating Transfers <br />TRANSFER TRANSFER <br />FUND It FUND NAME IN FUND# FUND NAME OUT <br />( 1 401 Improvement Fund 25,000.00 100 General Fund <br />25,000.00 <br />2 401 Improvement Fund <br />190,930.00 <br />100 General Fund <br />190,930.00 <br />404 Hoffman Road Improvement Fund <br />194,070.00 <br />100 General Fund <br />194,070.00 <br />3 401 Improvement Fund <br />8,693.00 <br />403 Scheuneman Road Improvement Fund <br />8,693.00 <br />Total <br />418,693.00 <br />Total <br />418,693.00 <br />The foregoing Resolution was offered by Councilor and was supported by <br />Councilor and was declared adopted based upon the following vote: <br />NAME <br />ARTIG- <br />SWOMLEY <br />CACIOPPO <br />LINDNER <br />KUNY <br />AMLEE <br />Vote <br />Attest <br />I, Gloria Tessier, the duly qualified City Clerk for the City of Gem Lake, County of Ramsey, <br />State of Minnesota, do hereby certify that the foregoing Resolution is a true and accurate <br />representation of action taken by the City Council of the City of Gem Lake on the date first written. <br />IS December 2020 <br />1 GLOAIA TESSIER, City Clerk <br />Look for us on the World Wide Web at gemlakemn.org <br />