HomeMy WebLinkAbout6.c. Temporary Transfer = Armory ProjectCITY OF ROSEMOUNT
EXECUTIVE SUMMARY FOR ACTION
CITY COUNCIL MEETING DATE: JANUARY 15, 1991
AGENDA ITEM:
AGENDA SECTION:
TEMPORARY TRANSFER - ARMORY PROJECT
NEW BUSINESS
PREPARED BY:
AGENDA NO.
STEPHAN JILK, CITY ADMINISTRATOR
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ATTACHMENTS:
APY ROV D Bim
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Due to the ongoing design work for the Community Center/Armory Project we
will be in need of funds for architectural services and bond referendum
election costs.
The collection of levy dollars to offset these costs will not take place
until July and December when taxes are paid. Until that time we will
experience more expenses than we have cash on hand. I would request your
approval to make a temporary transfer from the General Fund to the Armory
project Fund (101 to 220) in the amount of $20,000 to be paid back by the
Armory Fund in July at first tax collection.
RECOMMENDED ACTION:
Adopt a motion to transfer $20,000 from the General Fund to the Armory
Fund in the amount of $20,000 on a temporary basis until July, 1991 at
which time the Armory Fund will reimburse the General Fund.
COUNCIL ACTION:
Approved.