HomeMy WebLinkAbout5.F.5. Fund Transfers
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CITY OF SHAKO PEE
Memorandum
TO: Mayor and Council Ct\~\~'~~~T
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Mark McNeill, City Administrator .' '\Ij"r:'..ildll"
FROM: Gregg Voxland, Finance Director
SUBJ: Fund Transfers
DATE: December 18, 2008
Introduction & Background
The 1996A bonds are paid off and in order to close the fund, it is
recommended to transfer the remaining balance of $3,327.63 to the 1997B
debt service fund.
The 1997B bonds will be paid off 1/31/09. After the transfer above,
the fund is short $29,481.04 due to assessments on MDOT land on the
west end of town not being paid. The original assessment for those
parcels is $81,888.96. A transfer from the Capital Improvement Fund is
needed to cover the short fall.
Action Requested
Move to approve of the transfer of $3,327.63 from the 1996A debt
service fund to the 1997B debt service fund.
Move to approve of the transfer of $29,481.04 from the Capital
Improvement Fund to the 1997B debt service fund.
A)
Gregg Voxland
Finance Director
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