05-28-1996 Council Packet - Laserfiche WebLink

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r I kt * (a) The budget amendment includes $18,000 to be reimbursed through the trail grant cv.ofK: . fr-'Js , ^ (b) The ncrease in the equipment budget is due to the change over from LOGIS to the Banyon in-house computer s> stem and related requirements, as authorized by Council in April, 1995. (c) The paving of the area behind the public works building was originally authorized and budgeted at $7,500, however, the actual cost was $7,875. (d) In 1995, payments totaling $15,900 were made to Braun Iniertec for work related to the monitoring wells at the old city hall property. For the period 1993 through 1995 the total costs related to the wells were projected to be appro.ximately $38,000. To date, due to additional activities required by the MFC A, the total actual costs have been $44,555.84. The City has been reimbur.sed for $33,461 of the e.xpenditures. The City will make a second applicat' "»n for reim'^ursement of the remainder of the expenditures. Temporary Cash Advance from the PIR Fund to the MSA Fund During 1995 the City had several Municipal State Aid Fund (MSA) construction projects in process which are being funded in whole or in part by municipal state aid from the state. Two of these projects involved cooperative agreements with the Stale of Minnesota, the Highway 12 Safety Improvement, and the Highway 12 and Willow Drive Semaphore. The City was required to pay costs to the stale before we could receive our share of the corresponding aid from the state. It is requested that the resulting temporary cash deficit of $135,000 within the MSA Fund be funded by a temporar>' advance from the PIR Fund. The advance will be reimbursed from the state aid received in 1996, and will be cleared by May 31. 1996. COUNCIL ACTION REQUESTED: Approval of the 1995 budget amendments for the Special Revenue Funds as presented; and approval and authorization of the temporary cash advance effective 12/31/95 from the PIR Fund to the Municipal State Aid Fund in the amount of $ 1 35,000, with the advance to be repaid \ 5/31/96. , seconded by., to approve the 1995PROPOSED MOTION: - Moved by,__ Special Revenue Funds budget amendments as presented; and to approve and authorize a temporaiy cash advance of $135,000 as of 12/31/95 from the PIR Fund Contingency Account to the Municipal State Aid Fund, to be repaid from state aid payments received by 5/3 1 /96. Ayes___, Nays____.