HomeMy WebLinkAbout5.F.5. Interfund TransfersTO: Mayor and Council
Mark McNeill, City Administrator
FROM: Gregg Voxland, Finance Director
SUBJ: Inter -fund Transfers
DATE: February 23, 2011
From
Transit
EDA
Sewer Fund
Surface Water
CIF
2002A Debt Service
2002B Debt Service
1998B Debt Service
East Dean Cap. Proj.
CIF
CIF
TIF #12
TIF #13
General Fund
Park Asset IS
Gregg Voxland
Finance Director
H: \Finance \CAFR \CAFR10\
To
General Fund
General Fund
General Fund
General Fund
General Fund
CIF
CIF
CIF
CIF
2010 Projects
2010 Projects
EDA
EDA
Building Fund IS
Emp. Benefit IS
CITY OF SHAKOPEE
Memorandum
Action Requested
Move to approve of the following inter -fund transfers for 2010;
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Introduction & Background
Council approval of various inter -fund transfers for 2010 is requested for documentation
purposes. This is for housekeeping /cleanup. Transfers are listed below in the action
requested. Transfers are per budget, to close old capital projects and debt service funds (DS)
into the Capital Improvement Fund (CIF), from the CIF to the 2011 project fund as per
engineering cost sharing memos, to reimburse the EDA Fund for admin costs in the TIF districts
#12 and #13, from the General Fund to the Building Fund which is under - funded and finally to
revise the prior transfer from the Employee Benefit Fund to the Park Asset fund to match the
liability for compensated absences.
Amount Purpose
11,200.00 Budget- overhead
11,200.00 Budget- overhead
50,000.00 Budget- overhead
50,000.00 Budget- overhead
122,000.00 Budget - Sealcoat
9,163.51 Close old DS Fund
5,295.65 Close old DS Fund
21,239.10 Close old DS Fund
394,012.13 Close old CP Fund
19,942.85 Share of 2010 project costs
461,108.41 Share of 2010 project costs
50.00 Reimburse admin cost
2,771.85 Reimburse admin cost
1,600,000.00 To support the Building Fund
37,261.28 Adjust prior transfer downward
to match benefit liability
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