07-30RESOLUTION NO. 2007-30
CITY OF OTSEGO
COUNTY OF WRIGHT, MINNESOTA
A RESOLUTION APPROVING THE PERMANENT INTERFUND
ACCOUNTING TRANSFERS
WHEREAS, the following accounting transfers have been made on December 31,
2006 to properly reflect the financing of various projects and related activities of
the City, and
WHEREAS, the accounting transfers require the approval of the City Council by a
resolution and to properly document this financing and approval,
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF OTSEGO,
MINNESOTA THAT THE FOLLOWING ACCOUNTING TRANSFERS BE APPROVED:
1. $348,284 is hereby transferred from the MSA Capital Projects Fund to the
MacIver/70"' Street Capital Projects Fund to finance the costs of the 2006
costs of the project not financed by street access fees.
2. $244,941 is hereby transferred from the 2006 SE Capital Improvements Fund
to reimburse the Highway 101 Capital Projects Fund to reimburse for the
2004 land acquisition costs.
3. $54,293 is hereby transferred from the Revolving Capital Improvements Fund
to the I94/CSAH 37 Capital Projects Fund To finance the preliminary costs
incurred with this study.
4. $637,677 is hereby transferred from the Revolving Capital Improvements
Fund to the I94 Industrial Park Capital Projects Fund to finance the
improvement costs.
5. $27,508 is hereby transferred from the Water Operating Fund to the
Wellhead Protection Fund to finance the 2005 and 2006 costs incurred for
this project.
6. $36,653 is hereby transferred from the 1996 Debt Service Fund to the
Revolving Capital Improvements Fund to close the remaining balance after all
debt service payments have been made.
7. $400,000 is hereby transferred from the Quaday Capital Improvements Fund
to the related Quaday Debt Service Fund to close a portion of the remaining
assets of the project for debt service payments.
Motion for adoption of the resolution by CM Ver, uP; finer seconded by
CM Jessica Stockop at the City Council meeting of June 11, 2007.
CITY OF OTSEGO
Larry umier, Mayor
ATTEST:
Clt� Clerk