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<br />RESOLUTION NO. 03-042
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<br />iI A RESOLUTION AUTHORIZING OPERATING TRANSFERS FROM THE
<br />1\,' ENVIRONMENT AL RESTORATION FUND TO THE COMMUNITY REINVESTMENT
<br />L FUND AND BETWEEN THE CAPITAL IMPROVEMENTS FUND, THE NON-FLEET
<br />lj REPLACEMENT FUND AND THE INFORMATION TECHNOLOGY FUND
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<br />II WHEREAS, the City was awarded $1,510,000 as reimbursement for expenses incurred during litigation with the
<br />i! United States Army; and
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<br />,I WHEREAS, these funds are designated for future connnunity improvements and currently reside in the
<br />! i Environmental Restoration Fund; and
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<br />:! WHEREAS, the Connnunity Reinvestment Fund was established in 2001 to account for resources designated for
<br />': community improvements; and
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<br />Ii WHEREAS, the Non-Fleet Replacement Fund was established in 2001 with an operating transfer from the
<br />: I Capital Improvement Fund; and
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<br />CITY OF NEW BRIGHTON
<br />COUNTY OF RAMSEY
<br />STATE OF MINNESOTA
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<br />.! WHEREAS, the Information Technology Fund was established in 2002 for the maintenance and replacement of
<br />,i the City's infonnation technology systems; and
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<br />i WHEREAS, the Capital Improvement Fund and the Non-Fleet Replaeement Fund have reserves encumbered for
<br />,i the replacement of the City's information technology systems; and
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<br />i I WHEREAS, operating transfers are necessary to properly allocate reserves encumbered.
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<br />il NOW, THEREFORE, BE IT RESOLVED that:
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<br />A transfer of $1 ,51 0,000 from the Environmental Restoration Fund to the Community Reinvestment Fund is
<br />authorized effective for the year ended December 31, 2002.
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<br />A transfer of $160,825 from the Capital Improvement Fund to the Non-Fleet Replacement Fund is
<br />authorized effective for the year ended December 31, 2002.
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<br />3. A transfer of$61,500 from the Capital Improvement Fund to the Information Technology Fund is
<br />authorized effective for the year ended December 31, 2002.
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<br />:i 4.
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<br />Adopted this lOth day of June, 2003.
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<br />A transfer of $294,400 from the Non-Fleet Replacement Fund to the Infonnation Technology Fund is
<br />authorized effective for the year ended December 31, 2002.
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<br />Steve Larson, Mayor '
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<br />: ATTEST:
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<br />, atthew S. Fulton, City Manager
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<br />! Daniel A. Maiers
<br />i Finance Director/City Clerk
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<br />J; \CO UN CJ L \Reso \utions \2003\ 11 nance\20020peratj ng Transfers, doc
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