RES 13-26MAP I
WHEREAS, The City of Elk River's Financial Management Policies includes a General Fund
Balance policy in excess of 45% shall be allocated to other purposes at the discretion
of the City Council; and,
WHEREAS, The City Council has requested that the minimum unassigned fund balance in the
General Fund for 2012 be a minimum of 40% and a maximum 45 %; and,
WHEREAS, The City Council has considered the various uses of the balance in excess of 45 %;
THEREFORE, BE IT RESOLVED that the City Council of the City of Elk River
makes the following transfer of funds from the General Fund excess balance:
Capital Outlay Reserve Fund $308,208
Passed and adopted this 6`1' day of May 2013.
J J Dietz, Ma r
ATTEST:
Tina Allard, City Clerk
N: \Public Bodies \Agenda Packets \05-06- 2013 \4.7sr Fund Balance Allocationkf docx