RES 19-56Crty or
Elk —
River
City of Elk River
City Council
Resolution 19- 56
A Resolution of the City Council of the City of Elk River Authorizing a
Transfer from the General Fund to the 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 and consented to the following.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Elk
River, Minnesota, as follows: The transfer of $237,813 from the General Fund balance to
the Capital Outlay Reserve fund.
Passed and adopted this 18th day of November 2019.
ATTEST:
J I '
Tina Allard, City Clerk
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o n Aietz,,or
POVIIII I
NATURE