1k 2004 Fund Transfers
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CITY OF
CHANHASSEN
MEMORANDUM
TO: Todd Gerhardt, City Manager
DATE:
June 13, 2005
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7700 Market Boulevard
. PO Box 147
Chanhassen, MN55317
FROM:
Greg Sticha, Finance Director
Administration
Phone 952.227.1100
Fax: 952.227 1110
RE:
2004 Fund Transfer Modifications
Building Inspections
Phone 952.227.1180
Fax: 952.227 1190
BACKGROUND
Park & Recrealion
Phone: 952.227.1120
Fax: 952.227.1110
On December 13, 2004, the City Council approved a series of fund transfers to
clean up and close out several funds. In conducting the 2004 audit, it was
discovered that an error was made in the 1994B GO hnprovement Debt Service
Fund (334). The transfer that was made on December 13, 2004, was made
before the journal entry to record the final bond payment of$41,000 in
November 2004. Therefore, that left the fund in a deficit of exactly $41,000
rather than at a zero balance as of December 31, 2004. This transfer moves the
funds back from fund 300 to fund 334 to make the final bond payment, and have
the fund with a zero balance and be closed as of December 31, 2004.
Engineering
Phone 952.227.1160
Fax: 952.227.1170
Finance
Phone 952.227.1140
Fax: 952.227.1110
Recrea!ionCenter
2310 Coulter Boulevard
Phone: 952.2271400
Fax: 952.227.1404
RECOMMENDATION
Planning &
Nalural Resources
Phone:952.2271130
Fax: 952.227.1110
Staff recommends that the City Council approve the attached resolution
correcting the erroneous fund transfer previously approved. This action requires
a majority approval by the City Council.
Public Works
1591 Park Road
Phone 952.227.1300
Fax 952.2271310
Senior Center
Phone: 952.227.1125
Fax 952.227.1110
WebSile
www.ci.chanhassen.mn.lJs
The City 01 Chanhassen . A growing community with clean lakes, quality schools, a charming downtown, thriving businesses, winding trails. and beau!ijul parks. A grea\ place to live, work, and play
CITY OF CHANHASSEN
CARVER AND HENNEPIN COUNTIES, MINNESOTA
DATE:
June 13. 2005
RESOLUTION NO: 2004-
MOTION BY:
SECONDED BY:
Resolution Amending 2004 Fund Transfers
A. WHEREAS, the City Council of the City of Chanhassen, Minnesota, it has been determined that
a transfer needs to be made in 2004 based on audit adjustments requested by our auditors; and
B. WHEREAS, the Finance Director has listed those funds and amounts that need to be transferred;
and
C. WHEREAS, an error was made in the resolution approved on December 13,2004; and
D. WHEREAS, this resolution remedies this error and replaces the balance in fund 334 to make the
final bond payment from November 2004 to give the fund a zero balance as of December 31,
2004;
NOW, THEREFORE, BE IT RESOLVED by the City Council of Chanhassen, Minnesota, as follows:
1. Authorization: Findings. The City Council hereby authorizes the Finance Director to make the
following transfer of funds:
Transfer ftom:
300 Permanent Revolving Debt Fund
Transfer to:
334
Amount
$41,000.00
Passed and adopted by the Chanhassen City Council this 13th day of June, 2005.
ATTEST:
Thomas A. Furlong, Mayor
Todd Gerhardt, City Manager
YES
NO
ABSENT