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AGENDA ITEM <br /> <br />Prepared By: RJO Reviewed By: A. Carlson Approved By: <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br />1. Purpose. The purpose of this action item is to approve an operating transfer from the Enterprise <br />Funds for their share of the 2021 road projects. <br /> <br />2. Background / Summary. Road projects often involve improvements for Stormwater, Water, and <br />Sewer. When requests for payments are received, the entire payment is charged to the Pavement <br />Management Fund (PMP). When the project is completed, the enterprise funds reimburse the PMP. The <br />2021 Road projects have been completed and the enterprise funds share should be transferred to the PMP. <br />This transfer will be recorded in the 2022 financial statements. The transfers are in the following table. <br /> <br />From To Amount <br />Water Fund Pavement Management Fund $121,077.77 <br />Sewer Fund Pavement Management Fund $ 12,695.00 <br />Stormwater Fund Pavement Management Fund $391,321.68 <br /> <br /> <br />3. Staff Recommendation. Staff recommends approval of the 2022 operating transfer from the <br />Stormwater, Water, and Sewer Funds as presented. <br /> <br />COUNCIL ACTION REQUESTED <br />Motion to approve the 2022 operating transfer from the Stormwater, Water, and Sewer Funds as <br />presented <br /> <br />Item No.: 8 Date: March 21, 2023 <br />Item Description: Approval to Allocate 2021 Road Project Costs <br />Presenter: Ron Olson <br />Finance Director <br />Agenda <br />Section: <br />Consent Agenda <br />