2018-52CITY OF CHANHASSEN
CARVER AND HENNEPIN COUNTIES, MINNESOTA
DATE: November 13, 2018 RESOLUTION NO: 2018-52
MOTION BY: McDonald SECONDED BY: Campion
RESOLUTION AUTHORIZING 2018 FUND TRANSFERS, CREATION OF PARK
REPLACEMENT FUND, AND CLOSURE OF FUNDS NO LONGER IN USE
WHEREAS, the city's auditors have completed the 2017 Financial Audit. Staff has
identified the General Fund Surplus as of December 31, 2017 to be $479,886 and recommends
the transfer of $80,000 to the capital equipment replacement fund, and the remaining $399,886 to
be used for the creation of a park replacement fund; and
WHEREAS, the city no longer has a need to account for the old Public Works building
as it has been sold. Staff recommends the transfer of the remaining funds of $485,059.13 to the
capital equipment replacement fund for the eventual purchase of a fire engine in 2019. Staff also
recommends the closure of the old Public Works Building Fund after the transfer is complete;
and
WHEREAS, the city refunded the 2008A GO Capital improvement bonds for the new
Public Works Building in 2016. Staff is recommending the transfer of $107,147.96 from and
closure of the 2008A GO Capital Bond Fund to the 2016A GO Refunding Bond Fund.
NOW, THEREFORE, BE IT RESOLVED by the City Council of Chanhassen,
Minnesota, as follows:
1. Authorization: The City Council hereby authorizes the Finance Director to close the
following funds as shown:
Fund Name Fund Number
2008A GO Capital Improvement Bond Fund 367
Old Public Works Building Fund 422
2. Authorization: The City Council hereby authorizes the Finance Director to transfer the
following amounts as shown:
From Fund
To Fund
Amount
101 General Fund
400
$80,000.00
101 General Fund
401
$399,886.00
422 Old PW Building
400
$485,059.13
367 2008A GO Capital
370
$107,147.96
3. Authorization: The City Council hereby authorizes the Finance Director to create a Park
Replacement Fund as shown:
Fund Name Fund
Park Replacement Fund 401 ��]
Passed and adopted by the Chanhassen City Council this 1P day of November, 2018.
ATTEST:
/odd Gerhardt, City Manager
YES
Laufenburger
McDonald
Ryan
Campion
NO
OA
CZ Clxvy��
Denny Lauf nburger, ayor
ABSENT
Tjornhom