1g. Approval of 2011 Fund Transfers0
CITY OF
CAANgASSEN
7700 Market Boulevard
PO Box 147
Chanhassen, MN 55317
Administration
Phone: 952.227.1100
Fax: 952.227.1110
Building Inspections
Phone: 952.227.1180
Fax: 952.227.1190
Engineering
Phone: 952.227.1160
Fax: 952.227.1170
MEMORANDUM
TO: Mayor & City Council Members
FROM: Greg Sticha, Finance Director
DATE: June 27, 2011 t
SUBJ: Approve 2011 Fund Transfers
1qF1440070
PROPOSED MOTION:
The City Council approves the attached Resolution Authorizing 2011 Fund
Transfers to become effective January 1, 2011.
Approval requires a simple majority vote of the City Council.
BACKGROUND
Finance
Phone: 952.227.1140
The 2010 audit is complete, and the general fund finished with a surplus of
Fax: 952.227.1110
$395,759. Based on discussions earlier this evening, staff recommends the
transfer of that surplus to the revolving assessment construction fund (601).
Park &Recreation
Phone: 952.227.1120
Fax: 952.227.1110
In addition, staff reviewed a 2010 transfer of $647,000 from the park dedication
fund (4 10) for the construction/reconstruction of trails related to Lyman
Recreation Center
Boulevard Phase I improvements. This transfer was made based on the original
2310 Coulter Boulevard
staff report and the need to cover the construction costs. It has been the city's
Phone: 952.227.1400
practice to pay for trail improvements along or near street construction/
Fax: 952.227.1404
reconstruction projects using funds available from the street pavement
management fund or revolving assessment construction fund. Approval of this
Planning &
Natural Resources
transfer will reverse the transfer made in 2010 and return the funds to the Park
Phone: 952.227.1130
Dedication Fund. Funds from the revolving assessment construction fund will
Fax: 952.227.1110
temporarily be used to pay for the trail improvements related to the Lyman
Boulevard Phase I project, until advanced MSA construction dollars are
Public works
received from the state.
7901 Park Place
Phone: 952.227.1300
RECOMMENDATION
Fax: 952.227.1310
Senior Center Staff recommends that the City Council adopt the attached resolution approving
Phone: 952.227.1125 the transfers as noted above. Approval requires a simple majority vote of the
Fax: 952.227.1110 City Council.
Web Site ATTACHMENT
www.ci.chanhassen.mn.us
1. Resolution
f\gregs \council\2011\2011 fund tsf memo 6- 27.docx
Chanhassen is a Community for Life - Providing for Today and Planning forTomorrow
CITY OF CHANHASSEN
CARVER AND HENNEPIN COUNTIES, MINNESOTA
DATE: June 27, 2011
MOTION BY:
RESOLUTION NO: 2011-
SECONDED BY:
RESOLUTION AUTHORIZING 2011 FUND TRANSFERS
WHEREAS, the city's auditors have completed the 2010 Financial Audit and staff has identified
two transfers that were discussed with the city council earlier this evening. The transfers are to be made
as of January 1, 2011.
follows:
NOW, THEREFORE, BE IT RESOLVED by the City Council of Chanhassen, Minnesota, as
Authorization; Findings The City Council hereby authorizes the Finance Director to transfer the
following amounts as shown.
Transfer from: Transfer to: Amount
101 General Fund 601 (Revolving Assessment $395,759
Construction Fund)
601 Revolving Assessment 410 (Park Dedication Fund) $647,000
Construction Fund
Passed and adopted by the Chanhassen City Council this 27th day of June, 2011.
ATTEST:
Todd Gerhardt, City Manager
YES
Thomas A. Furlong, Mayor
NO ABSENT
g: \admin\resol\2011\201 1 fund transfers.doc