07-044 RES
.
.
.
RESOLUTION 07-~
A RESoLuTION OF THE CITY OF ELK RIVER
A RESOLUTION AUTHORIZING A TRANSFER FROM THE GENERAL FUND
TO THE CAPITAL OUTLAY RESERVE FUND
WHEREAS, The City of Elk River's Financial Management Plan includes a General Fund Balance
policy in excess of forty percent shall be allocated to other purposes at the discretion
of the City Council; and,
WHEREAS, The City Council has requested that the minimum unreserved balance in the General
Fund for 2006 be 41.50 percent; and,
WHEREAS, The City Council has considered the various uses of the balance in excess of 41.50
percent;
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Elk River
makes the following transfer of funds from the 2006 General Fund Balance:
Capital Outlay Reserve Fund $424,674
Passed and adopted this 2nd day of April 20 07.
~'~
Stepha 'e Klinzing, May
A1TE[S~':J
c_---,///</
Tina Allard, City Clerk
s: \Council\ Tim \FundBalance allocation,doc