HomeMy WebLinkAbout2017-098 CCRMember April Graves introduced the following
resolution and moved its adoption:
RESOLUTION NO. 2017-98
RESOLUTION APPROVING A TRANSFER OF FUNDS FROM THE
GENERAL FUND AND THE MUNICIPAL LIQUOR STORE FUND TO THE
CAPITAL IMPROVEMENTS FUND
WHEREAS, the City Council of the City of Brooklyn Center has adopted a
Capital Projects Funding Policy; and
WHEREAS, the audited year-end Unassigned fund balance within the General
fund exceeded 52% of the next year's General fund operating budget; and
WHEREAS, the audited year-end cash balance within the Municipal Liquor
Stores fund exceeded the combination of three and one half months of the following years
operating budget plus the following years capital budget; and
WHEREAS, the excess funds as calculated by the terms of the Capital Projects
Funding Policy may be transferred from the General and Municipal Liquor Stores funds to the
Capital Improvements fund.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of
Brooklyn Center, that a transfer of $828,442 is made into the Capital Improvements fund, with
$715,544 from the General fund and $112,898 from the Municipal Liquor Stores fund.
June 26 2017
Date
ATTEST: _Aw4vt
City Clerk
ry
Mayor Pro Tem
The motion for the adoption of the foregoing resolution was duly seconded by member
Marquita Butler
and upon vote being taken thereon, the following voted in favor thereof:
Dan Ryan, Marquita Butler, April Graves, Kris Lawrence -Anderson
and the following voted against the same:
whereupon said resolution was declared duly passed and adopted.