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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; S. l • S� car 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 3