HomeMy WebLinkAbout06-064
16200 Eagle Creek Avenue S.E.
Prior Lake, MN 55372-1714
RESOLUTION 06-064
RESOLUTION AUTHORIZING GENERAL FUND TRANSFER
TO THE BUILDING FUND
MOTION BY: Millar
SECOND BY: LeMair
WHEREAS,
The City of Prior Lake's General Fund balance on December 31, 2005
increased by a net $426,541.00, after authorized transfers, to an amount of
$4,297,370.00; and
WHEREAS,
The General Fund balance represents a reserve of 40% of the City of Prior
Lake's current 2006 operating budget; and
WHEREAS,
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
WHEREAS,
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 THE 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:
PurDose Fund Transfer
Amount
Reserve capital for new city hall/police facility Building Fund
$500,000.00
Passed and adopted this 15th day of May, 2006.
YES NO
Haugen x Haugen
Dornbush x Dornbush
Erickson x Erickson
LeMair x LeMair
Millar x Millar
{Seal}
ru ~ j"..-,
City Manager {;/-.~
City of Prior Lake
www.cityofpriorlake.com
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