HomeMy WebLinkAbout03-60 RESOLUTION 03-60
RESOLUTION AUTHORIZING GENERAL FUND TRANSFER
TO THE BUILDING FUND
MOTION BY: PETERSEN SECOND BY: ZIESKA
WHEREAS, The City of Prior Lake's General Fund balance on December 31, 2002 increased by
$473,463.00 to an amount of $4,827,904.00; and
WHEREAS, The General Fund balance represents a reserve of 56% of the City of Prior Lake's current
2003 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 the following appropriation
transfer from the General Fund balance is hereby authorized as follows:
Purpose Fund Transfer Amount
Reserve capital for new city hall facilityBuilding Fund $1,000,000.00
Passed and adopted this 21st day of Apd12003.
YES NO
Haugen X Haugen
Blomberg X Blomberg
LeMair X LeMair
Petersen X Petersen
Zieska X Zieska
{Seal} Frank Boyles, City
16200 Eagle Creek Ave. S.E., Prior Lake, Minnesota 55372-1714 / Ph. (952) 447-4230 / Fax (952) 447-4245
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