HomeMy WebLinkAbout6.e. 2021 Interfund Transfers
EXECUTIVE SUMMARY
City Council Regular Meeting: March 15, 2022
AGENDA SECTION:
AGENDA ITEM: 2021 Interfund Transfers
Consent
PREPARED BY: Teah Malecha, Finance Director AGENDA NO. 6.e.
ATTACHMENTS: 2021 Transfers Schedule APPROVED BY: LJM
RECOMMENDED ACTION: Motion to approve the 2021 interfund transfers.
BACKGROUND
Each year the City transfers money between funds. Transfers of money occur for various reasons. The
following provides a list of examples:
Funding for current projects.
Closing completed project funds.
Administrative transfers for arena operations.
Debt service payments for enterprise fund portions and TIF districts.
Funding for the Capital Improvement Plan (CIP) Funds: street, building, and equipment.
The attached comprehensive schedule details the interfund transfers that occurred during 2021. The
transfers are grouped into four color-coded categories.
Purple – Amounts highlighted in purple represent amounts that were included in the 2021 budget
and transferred accordingly.
Yellow – The amounts in yellow include various transfers to close project funds for projects that
have been completed. The funds are returned to the source that originally financed the project.
Maroon – The maroon amounts include transfers to fund projects which are paid for through the
Street CIP Fund, special assessments, and various utility funds.
Orange – The amount in orange is a correction of a payment that was applied to the incorrect
project fund.
These transfers have been completed annually as needed. This provides a clear picture to the City Council
of the work performed internally.
RECOMMENDATION
Staff recommends approval of the 2021 interfund transfers.
234567891011121314151617181920212223242526272829303132333435DEFGHIJKLMNOPQRSTUVW General Fund Street CIP G.O. Series 2014A G.O. Series 2008A G.O. Series 2015A Rosemount Woods Autumn Path Bonaire Path Connemara (East) Biscayne Ave SIP 2021 Pavement Mgmt Water Utility Storm Water Utility Water Core Sewer Core Storm Core 2015A Bonds Arena 3,500 209,746 70,000 400,000 200,000 105,662 684,200 155,492 2,329,909 272,791 1,766,670 22,239 12,774 7,313 5,756 12,774 176,000 130,000 6,561,326 Fund 101 203 330 381 384 432 445 446 447 448 459 601 603 605 606 607 612 650 Totals101 - General Fund130,000 130,000 203 - Street CIP684,200 102,300 1,245,744 133,500 1,428,068 3,593,812 242 - TIF Downtown/Brock400,000 200,000 600,000 408 - 145th St. Ped Imp19 19 415 - Meadow Ridge 3rd105,662 105,662 425 - 132nd St W Imp136,545 136,545 457 - Deepwoods Court Imp12,926 12,926 601 - Water Utility66,200 135,968 202,168 602 - Sewer Utility75,561 75,561 603 - Storm Water Utility127,073 127,073 605 - Water Core60,255 70,000 52,512 12,774 5,756 12,774 176,000 390,072 606 - Sewer Core680 73,091 73,771 607 - Storm Core1,084,165 1,084,165 626 - Well #16 Project22,239 7,313 29,551 650 - Arena3,500 3,500 - - - - - - - 3,500 209,746 70,000 400,000 200,000 105,662 684,200 155,492 2,329,909 272,791 1,766,670 22,239 12,774 7,313 5,756 12,774 176,000 130,000 6,564,826 - - - - - - Transfers per original 2021 budgetTransfers to close completed project funds.Additional transfers that occurred during the year to fund projects.Additional transfer that occurred to correct misapplied payment.TRANSFERS IN
K7Cell:Malecha, TeahComment:Special assessment portion.3/4/2022 9:45 AML7Cell:Malecha, TeahComment:Special assessment portion.3/4/2022 9:46 AMM7Cell:Malecha, TeahComment:Special assessment portion.3/4/2022 9:47 AMN7Cell:Malecha, TeahComment:Special assessment portion.3/4/2022 9:48 AMO7Cell:Malecha, TeahComment:$499,824 special assessment portion.3/4/2022 9:52 AMF9Cell:Malecha, TeahComment:To close project fund.3/4/2022 9:28 AMJ10Cell:Malecha, TeahComment:Correct misapplied payment.3/4/2022 9:43 AMF11Cell:Malecha, TeahComment:To close project fund.3/4/2022 9:28 AMF12Cell:Malecha, TeahComment:To close project fund.3/4/2022 9:28 AMF16Cell:Malecha, TeahComment:To close project fund.3/4/2022 12:47 PMG16Cell:Malecha, TeahComment:Water revenue bond portion.3/4/2022 9:32 AMQ16Cell:Malecha, TeahComment:To close project fund.3/4/2022 1:04 PMS16Cell:Malecha, TeahComment:To close project fund.3/4/2022 1:04 PM Cell: T16Comment: Malecha, Teah To close project fund. 3/4/2022 1:04 PM Cell: P19Comment: Malecha, Teah To close project fund. 3/4/2022 9:54 AM Cell: R19Comment: Malecha, Teah To close project fund. 3/4/2022 9:57 AM