1n. Correction to Year End Closings & Transfers C ,
ITY o F
`\ 690 COULTER DRIVE • P.O. BOX 147 • CHANHASSEN, MINNESOTA 55317
(612) 937-1900
' MEMORANDUM
' TO: Mayor and City Council
FROM: Tom Chaffee, Data Processing Coordinator
DATE: March 30 , 1989
SUBJ: Correction to Year End Transfers and Fund Closings
The year end closings as submitted and approved on March 13 , 1989
transposed fund closing amounts. The attached represents the
corrected listing.
Also included in this listing is a new transfer of $36 , 000 from
' the State Aid account to the Lake Drive project. At time of pre-
paring the year end closings , receivables from the State Aid
account were not known and therefore making a year end transfer
' was not feasible. Since that date, the receivable has been set
at $75 , 000 and the resolution requesting reimbursement was
approved by the Council on March 27, 1989 . As you are aware,
Lake Drive was a state aid project with all bond proceeds and
state aid reimbursements being receipted into the local state aid
account. With final balances, hopefully, being completed, we are
now in a position to finalize this project.
' This office would recommend that we close 1988 with adequate
resources shown in Lake Drive account, i .e. this fund will end
' with a deficit cash balance of approximately $72, 000 and a
receivable of $75, 000 (deficit interest charges through the time
of receipt of the state' s check is anticipated to approximate
$3, 000) .
1988 TRANSFERS -`
Transfer To Amount Transfer From
309 Adv. TIE) Refund Bonds - 83 642, 041 . 00 460 H. R. A.
315 1987 G. O. TID Bonds 206, 840. 00 460 H. R. A.
458 City Hall Expansion 30, 000. 00 208 Admin. Trust
469 Comm. Develop. Block Grant 14, 500. 00 101 General Fund N�
471 Old Village Hall 48, 700. 00 460 H.R. A.
513 Bonds of 1983 190, 000. 00 460 H.R. A. m�
516 Bonds of 1986 32, 925.00 401 Sewer Expansion
516 Bonds of 1986 677, 878. 00 415 M.S. A.
517 1987 G.O. Impr . Bonds 476, 427. 00 415 M.S. A.
o�
458 - Courtyard - City Hall Exp. 134, 392. 50 460 H.R. A.
622 Lake Drive East 36, 000. 00 415 M.S.A. m�
sr
NI' '1 ~ 1988 PROPOSED FUND CLOSINGS
Fund Proposed Approximate Balance
I For Closing Balance Transferred To
- -- ---- Transferred_
To
MWCC Deferred Debt 12, 861 . 02 516 Bonds of 1986
II307 1982 Equip. Cert . 8, 226. 08 314 1987 Equip. Cert .
310 1984 Equip. Cert . - 2,960.00 314 1987 Equip. Cert .
311 1984 Equip. Cert . #2 9, 298. 16 314 1987 Equip. Cert .
II456 Public Works Expansion 49, 897. 30 458 City Hall Expansion
*508 Refund Bonds - 1978 146, 138. 06 209 Motor Vehicle
NI *515 1984 G. O. Impr . Bonds - 13, 018.48 209 Motor Vehicle
625 85-17 Si:'. Lotus Lk. Phase I - 39, 560. 63 627 Lk. Lucy Road/
I Trunk Water
626 85-15 Park One Phase II - 285. 21 627 Lk. Lucy Road/
I Trunk Water
629 86-3 Water Storage/Trunks 551 , 289. 90 627 Lk. Lucy Road/
ITrunk Water
630 80-1/86-14 Lk. Ann Interceptor 67, 465. 32 627 Lk. Lucy Road/
Trunk Water
~~ 631 86-2 Chan. Hills Trunk Water 44, 867. 72 410 Park Acq. & Dev.
II632 86-7 W. 65th/Crestview - 1 . 124. 94 .1�4. 94 410 Park Acq & Dev.
633 86-13 Co. Rd. 16/17 Trunk Sewer 533. 66 410 Park Acq. & Dev.
NI 635 87-1 W. 78th/Kerber Sewer Lat . 4,655. 17 410 Park Acq. & Dev.
637 87-10 No. Lotus Lk Swr/Water - 51 , 486. 68 410 Park Acq. & Dev.
I902 Centex Homes/Teton Lane 3, 779. 48 208 Admin. Trust
907 Developer - Perc Tests 3, 738. 97 208 Admin. Trust
912 Tanadoona/Dogwood - 3, 487. 99 208 Admin. Trust
NI 914 Sunset Trai l /Mjolsnes 3, 505. 00 208 Admin. Trust
II915 Niemela 530.90 208 Admin. Trust
*These issues were defeased in September 1988.
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