HomeMy WebLinkAbout05-10516200 Eagle Creek Avenue S.E.
Prior Lake, MN 55372-1714
RESOLUTION 05-105
RESOLUTION AUTHORIZING GENERAL FUND TRANSFER
TO THE BUILDING FUND
MOTION BY: Fleming SECOND BY: Zieska
The City of Prior Lake's General Fund balance on December 31, 2004 increased by
$531,922.00 to an amount of $4,370,829.00; and
The General Fund balance represents a reserve of 45% of the City of Prior Lake's
current 2005 operating budget; and
It is the decision of-the City Council to review, on an annual basis, the availability of
such reserves and to allocate these funds in a manner that would best serve the
community on a long term basis; and
It is recognized by the City Council that it is in the best interest of the City to
maintain a strong General Fund reserve as financial protection for Unexpected
emergencies and expenditures that would require contingency funding.
NOW THEREFORE, BE IT RESOLVED BY TIlE CITY COUNCIL OF PRIOR LAKE that:
1. The recitals set forth above are incorporated herein.
2. The following appropriation transfer from the General Fund balance is hereby authorized as
follows:
Purpose Fund Transfer Amount
Reserve capital for new city hall/police facility Building Fund
$500,000.00
Passed and adopted this 6th day of June 2005.
YES
Haugen X Haugen
Fleming X Fleming
LeMair Absent LeMair
Petersen X Petersen
Zieska X Zieska
NO
{Seal}
City Manager
City of Prior Lake
www.cityofpriorlake.com
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