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Resolution No. <br />13 -039 <br />State of Minnesota <br />County of Ramsey <br />City of New Brighton <br />Resolution Authorizing Transfer from the General Fund and Amending the 2013 General <br />I I Fund Budget for the Transfer <br />, the City's Fund Balance Policy includes targeted and minimum balances for the <br />Fund, and <br />the targeted balance for the year ending December 31, 2012, is $4,579,600, and <br />, the minimum balance is 35% of the subsequent year's budgeted operating <br />ares, or $4,421,200, and <br />as of December 31, 2012, the unassigned fund balance of the General Fund is <br />1,700, and <br />the unassigned fund balance is currently at 47% of the subsequent year's budgeted <br />ing expenditures, and <br />included in the Fund Balance Policy is a provision to utilize up to 20% of the amount <br />of the targeted balance, and. <br />as of December 31, 2012, 20% of the excess is $290,400, and <br />the City's long -term financial plans include replenishing reserves as opportunities <br />since 2002, the Closed Bond Fund has provided almost $1,600,000 to reduce debt <br />tax levies. <br />NowTherefore Be It Resolved: that the Finance Director is authorized and directed to transfer <br />$290,400 from the General Fund to the Closed Bond Fund. <br />Be Tt Further Resolved that the 2013 General Fund Budget be amended as follows: <br />Increase: Transfer Out to Closed Bond Fund $290,400 <br />(Account number: 101- 40000 -9992) <br />