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<br />~ ! <br /> <br />! <br /> <br />! <br /> <br />, I <br /> <br />RESOLUTION NO. 03-091 <br /> <br />State of Minnesota <br />County of Ramsey <br />City of New Brighton <br /> <br />RESJlLUTION AUTHORIZING THE TRANSFER OF $1,400,000 FROM THE SEWER <br />FUN~ TO THE WATER FUND <br />I' <br />" <br />,I I <br />, I <br />Wher~rs, the City operates the Water and Sewer Funds as separate operations; and <br />II <br />Wherf~s, the Water and Sewer Funds had been accounted for as one combined fund in 2001; and <br />;1 <br /> <br />Wher~lis, the Water and Sewer Funds were separated into separate and distinct funds in 2002; <br />and II <br />i. <br />, i <br /> <br />Wherc~s, the Water Fund had a cash deficit of about $831,000 as of December 31,2002; and <br /> <br />~ i <br />\ i <br /> <br />Whereils, the Sewer Fund had a cash balance of about $2,800,000 as of December 31,2002; and <br />II <br />Ii <br />Wherrrs, the allocation of cash was not equitable and should be corrected; and <br /> <br />Now, itlherefore be it resolved, the Finance Director is authorized and directed to transfer <br />$1,40~,OOO from the Sewer Fund to the Water Fund effective in 2003: <br /> <br />I, <br /> <br />Adopt~d December 8, 2003. <br />Attes~:; <br />~. i <br />j <br />} ) <br /> <br />~~ <br /> <br />'I <br /> <br />Steve Larson, Mayor <br /> <br />~ I <br />I, <br /> <br />h~t7_ ~ /,u>'" /- /< ':' <br />ft-~~;ll tc.... tf -. )1:.: 4.( t:L'-iL~ <br /> <br />~~~U~y Manager <br /> <br />i 1 ~ <br />Dani~! A. Maiers, Director of Finance & Support Services <br /> <br />" <br /> <br />:; (SEAL) <br />1:\COU~ltlL\ResolutiOlls\2003\finance\2004I,)ljlityTran5ferRes.doc <br /> <br />, - <br />; \ <br /> <br />I, <br />