RES 1981-35 - 00006192RESOLUTION NO. 35 - 1981
A RESOLUTION AUTHORIZING CHANGES IN THE APPROPRIATED AND
UNAPPROPRIATED FUND BALANCES IN THE GENERAL FUND AND
TRANSFER FROM THE GENERAL FUND TO THE CAPITAL IMPROVEMENT
FUND
WHEREAS, It is estimated that the City Hall will use $1,100,000 of the
General Fund Unappropriated Fund Balance to cover expenses in the first three
months or so of 1981 before the City receives property tax revenues and
grants from the County and State. So this amount should be reflected in the
General Fund Appropriated Fund Balance in 1980 and the General Fund
Appropriated Fund Balance should be adjusted in future years to reflect
twenty percent of the following years General Fund Budget; and
WHEREAS, Due to the yearly depreciation of the General Fixed Assets and in
order to prepare for their replacements the City should allocate $700,000 of
the General Fund Unappropriated Fund Balance into the General Fund
Appropriated Fund Balance; and
WHEREAS, To financially better prepare the City to meet future major capital
improvement requirements, the amount of $500,000 should be transferred to the
Capital Improvement Fund from the General Fund.
NOW, THEREFORE, BE IT RESOLVED, That:
1. The amount of $1,100,000 be transferred from the General Fund
Unappropriated Fund Balance to the General Fund Appropriated Fund Balance
for 1980 and in future years the General Fund Appropriated Fund Balance
be adjusted to reflect twenty percent of the future years General Fund
Budget.
2. The amount of $700,000 be transferred from the General Fund
' Unappropriated Fund Balance to the General Fund Appropriated Fund Balance
for future fixed asset replacement.
3. The amount of $500,000 be transferred from the General Fund
Unappropriated Fund Balance to the Capital Improvement Fund.
PASSED AND ADOPTED BY THE CITY COUNCIL OF THE CITY OF FRIDLEY THIS 16TH DAY
OF MARCH, 1981.
ATTEST:
C � < <�
CITY CLER k KS SIDNEY C. INMAN
0091A/1270A
MAYOR - WILLIAM ;jEE
71