Laserfiche WebLink
V \ <br />DEC 1 C 2001 <br />Oil y ur unuf^u <br />REQUEST FOR COUNCIL ACTION <br />DATE: December 10,2001 <br />ITEM NO: j 7 <br />Departncnl Approval: y t <br />Tom Kuehn <br />Administrator Reviewed: <br />Name <br />Title Finance Director <br />/ <br />A|(enda Section: <br />City Administrator's <br />Report <br />Item Description: <br />2001 Interfund Transfers and Loan Payments <br />Attachment: Schedule of 2001 Interfund Transfers and Loan Payments <br />Each year the Council is requested to authorize transfer of monies between funds. These <br />transactions fall into two categories: <br />I.)Budgeted Transfers • Items designated in that year's budget when <br />originally adopted for the purpose of providing support from one fund to <br />another. <br />2.) Fund Obligations • <br />(a) Payments from one fund to another to reimburse expenses incurred by one <br />fund on behalf on another. This is generally for City portions of special <br />assessments, or for equipment capital outlay. <br />(b) Loan payments from one fuiui to another. Loans arc generally made to <br />construction funds for the purp.**.e of pay ment of expenses incurred prior <br />to the sale of bonds and the levying of special assessments. In addition <br />certain loans are necessary to fimd major undertakings when the fund <br />incurring the expense does not have adequate cash flow av ailable to <br />complete the project, fhis would include such situations as the loan from <br />the Community Investment Fund to the Water Operating Fund for the <br />Navarre water plant rehabilitation project. <br />COUNCIL ACTION REQUESTED: <br />Approval of transfers as indicated on the attached schedule.