RES 14-16 City of
RiVeF�
Resolution 14- 16
A Resolution ®f the City of Elk River Authorizing as Transfer From the
General Fund to the Capital Outlay Reserve Fund and Surface Water
Management Fund
WHEREAS, The City of Elk Diver's Financial Management Policies includes a General
Fund Balance policy in excess of forty five percent shall be allocated to other purposes at the
discretion of the City Council; and,
WHEREAS, The City Council has requested that the unassigned fund balance in the
General Fund for 2013 be a minimum of 40 percent and a maximum. of 45 percent; and,
WHEREAS, The City Council has considered the various uses of the balance in excess of
the 45 percent-,
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Elk
River, Minnesota, as follows: transfer funds from the General Fund Balance to:
Capital Outlay Reserve Fund $91,792
Surface Water Management Fund $34,024
Passed and adopted this 5"' day of May 2014.
JOO, J. l)ie/Z,Ma)%qL�
Al fEST:
n.
Tina.Allard, City Clerk
[N' ATURE]