RES 17-75Cagy of kik River
City council
Resolution 17- 75-
A Resolution of the City Council of the City of Elk River Authorizing a
Transfer from the General Fund to the Park Improvement Fund and Capital
Outlay Reserve Fund
WHEREAS, The City of Elk River'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.
WHEREAS, The City Council has designated that the unassigned fund balance in the
General Fund be a minimum of 40 percent and a maximum of 45 percent.
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:
Park Improvement Fund $119,382.35
Capital Outlay Reserve Fund $147,449.65
Passed and adopted this 20`s day of November 2017.
J41n J. l6ietz, Mayor
ATTEST:
Tina Allard, City Clerk
rrrEaEe it
NATURE