RES 2023-82 Approving Transfer of Funds Kittredge Park Shelter Repair ProjectCITY OF OTSEGO
COUNTY OF WRIGHT
STATE OF MINNESOTA
RESOLUTION NO: 2023-82
APPROVING TRANSFER OF FUNDS
WHEREAS, governmental accounting requires that monies dedicated to specific projects or activities are accounted for within
a separate fund of the City; and
WHEREAS, the City's 2023 Capital Improvement Plan included the Kittredge Parl< Shelter Repair Project; and
WHEREAS, the City Council on July 24, 2023, accepted quotes and authorized the repair; and
WHEREAS, actual project costs exceeded the estimated budget in the Capital Improvement Plan; and
WHEREAS, the City Council on August 14, 2023, directed staff to finance the difference between the actual project costs and
the Capital Improvement Plan with a transfer of funds; and
WHEREAS, the Finance Director has determined the total project costs and calculated the transfer of funds; and
WHEREAS, the Otsego City Council has the responsibility to review such transfers of funds as part of their financial oversight
of the City's resources.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF OTSEGO, MINNESOTA:
1. That a transfer of funds in the amount of $66,042.37 will be made from the Capital Improvement Revolving Fund to
the Parks Capital Equipment Fund to provide financing for the Kittredge Park Shelter Repair Project.
2. That the transfer of funds be recorded and reflected within the City's 2023 financial records.
ADOPTED by the Otsego City Council this 11th day of December, 2023.
MOTION BY: Dunlap
SECONDED BY: Moores
INFAVOR:stockamp, Dahl, Dunlap, Goede,
OPPOSED: none
and Moores
CITY OF OTSEGO
t M11
Jessica L. Stockamp, M ryor
ATTEST:
Audra Etzel, City Clerk