HomeMy WebLinkAbout2019-100 CCRMember Ryan
moved its adoption:
RESOLUTION NO
introduced the following resolution and
2019-100
RESOLUTION APPROVING A TRANSFER OF FUNDS FROM 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 two 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 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 $325,487 is made into the Capital Improvements fund from
the Municipal Liquor Store fund.
July 22, 2019
Date Mayor
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City Cleric
The motion for the adoption of the foregoing resolution was duly seconded by member Graves
and upon vote being taken thereon, the following voted in favor thereof. Graves, Butler, Elliott, Ryan, and
Lawrence -Anderson
and the following voted against the same: None
whereupon said resolution was declared duly passed and adopted.