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1993 INTERFUND TRANSFERS AND BLTXJET AMENDMENTS <br />May 20, 1994 <br />page3 <br />to the time of the bond sale. At this time recognition of the advances as a transfer will clear the <br />liability from the construction fund. The Budding Outlay revenue budget should also be <br />increa^d $290,000 to reflect the proceeds from the sale of the sewer plant property. After the <br />current transfer out, the Building Outlay Fund will have a cash balance ot $2,345,770 as of <br />12/31/93. <br />SEMTR OPERATING FUND & WATER OPERATING FUND <br />The 1989-1 water tower project, located north of Highway 12 on Old Crystal Bay Road, has <br />been completed during 1993 and a reallocation of a portion of the remaining construction funds <br />from the sewer fund to the water fund is needed to reimburse $20,087.84 of construction costs. <br />1980 IMPROVEMENT BOND DEBT SERVICE FUND & WATER & SEWTIR <br />OPERATING FUNDS <br />Preliminary to the call of the 1980 bonds a transfer of $241,000 from the debt fund to the water <br />fund ($122 000) and the sewer fund ($119,000) is requested to assist in the funding of the 1989 <br />revenue bo’nds. The remaining assets of the 1980 Debt Fund will be closed to the Water and <br />Sewer Operating Funds subsequent to the call of the 1980 bonds in 1994. <br />COUNCIL ACTION REQUESTED: <br />Approval and authorization to implement the budget adjustments and transfers, as listed. <br />Motion: Moved by seconded by _, to approve the budget adjustments and transfers, as <br />noted. Ayes_, Nays_.