2s. Fund closings and realignment J
C ITYOF
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CHANHASSEN
690 COULTER DRIVE • P.O. BOX 147 • CHANHASSEN, MINNESOTA 55317
(612) 937 -1900 • FAX (612) 937 -5739
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1 MEMORANDUM
DATE: September 8, 1993
TO: Don Ashworth, City Manager
1 FROM: Tom Chaffee, Finance Coordinator
SUBJECT: Fund Closings and Realignments
Now that the dust is settling on the 1992 audit process, we must
continue to keep our "house" in order to avoid last minute time
crunches in the 1993 audit process.
As has been previously pointed out, we can open or begin funds
for any specific purpose but must have formal Council approval
to close them. I have compiled the attached list of proposed
fund closings /mergers which we would like to process at this
time. The rationale being used for transferring
' proceeds /deficits is in accordance with Generally Accepted
Accounting Principles and consistent with past City practices.
Manager's Comment: As stated, the proposed fund
closings /transfers are consistent with City financial plans and
practices. Approval is recommended.
Prik,
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t 0 PRINTED ON RECYCLED PAPER
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11 City of Chanhassen
Carver and Hennepin Counties, Minnesota
DATE: RESOLUTION NO:
MOTION BY: SECONDED BY:
1 A RESOLUTION APPROVING MID -YEAR TRANSFERS AND CLOSINGS
WHEREAS, City staff has completed a mid -year review of the
1 financial records of the City of Chanhassen and has prepared the
attached Exhibit A of the proposed fund closings and transfers,
all being completed so as to conform with recognized financial
1 standards; and
WHEREAS, the City Council has reviewed the attached exhibit
and finds that such conforms to the general policies of the City.
NOW, THEREFORE, BE IT RESOLVED by the Chanhassen City Council
that the attached Exhibit A is hereby approved by the Chanhassen
1 City Council.
Passed and adopted by the Chanhassen City Council this 13th
day of September 1993.
ATTEST:
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Don Ashworth, City Clerk /Manager Donald J. Chmiel, Mayor
YES NO ABSENT
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1993 MID -YEAR FUND CLOSINGS
Approximate Balance Fund To Close Proceeds /Deficit To 1
9,805.65 304 1991 Equipment Certif. 950 - VEM
44,086.70 314 1987 Equipment Certif. 950 - VEM 1
188,805.13 305 Municipal Bldg. Bonds 302 - 1991D Municipal Refunding
348,455.80 (Cash) 506 Bonds of 1972 & 1973 710 - Sewer /Water Expansion
55,992.72 (Rcvb1) 506 Bonds of 1972 & 1973 710 - Sewer /Water Expansion
66.88 513 Bonds of 1983 300 Permanent Service
- 3,702.98 420 Senior Center 641 - TH 101 Realignment 1
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