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AGENDA ITEM <br />Date: February 9, 2026 <br />Title: 2025 Fund Transfers - Resolution 7661 <br />Presenter: Maggie Jin, Finance Director <br />Section: Consent Agenda <br />Purpose: <br />The purpose of this action item is to approve additional 2025 transfers. <br />Item: 3 <br />2. Background: <br />The City of Orono sometimes transfers funds to balance or close out fund accounts, reimburse <br />funds from another fund, save for capital projects, and to make operating transfers. These transfers <br />typically fall into the following categories: <br />A. Budgeted Transfers — Items designated in that year's budget when originally adopted for the <br />purpose of providing support from one fund to another. <br />B. Fund Obligations <br />i. Payments from one fund to another, to reimburse expenses incurred by one fund on <br />behalf of another. This is generally for City portions of special assessments, or for <br />equipment capital outlay. <br />ii. Loan payments from one fund to another. Loans are generally made to construction <br />funds, for the purpose of payment of expenses incurred prior to the sale of bonds and <br />the levying of special assessments. In addition, certain loans are necessary to fund <br />major undertakings when the fund incurring the expense does not have adequate cash <br />flow available to complete the project. <br />3. Staff Recommendation: <br />Staff recommends approval of the 2025 Transfers as presented. <br />COUNCIL ACTION REQUESTED <br />Motion to approve Resolution 7661 to authorize the 2025 transfers as presented on the attached <br />resolution. <br />Exhibits <br />A. Resolution 7661 - 2025 Fund Transfers <br />24 <br />