RES 21-28City of Elk River
ver City Council
Resolution 21-28
A Resolution of the City Council of the City of Elk River Authorizing a
Transfer from the General Fund to the Capital Outlay Reserve and
Equipment Replacement Funds
WHEREAS, The City of Elk River's Financial Management Policies includes a General
Fund Balance policy in excess of 45 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 $887,986 from the General Fund balance to:
Capital Outlay Reserve Fund $447,986
Equipment Replacement Fund $440,000
Passed and adopted this 19th day of April 2021.
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ATTEST:
Tina Allard, City Clerk
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