5.b)1) Close Fund #304 and Transfer Balance to Fund #307 Meeting Date: 8/17/10
Agenda Item: �( ,6 ) � �
City Council Agenda Report
City of Scandia
14727 209`h St. North
Scandia, MN 55073 (651) 433-2274
Action Requested: • Adopted a resolution to close"Blacktop Project 2004" Fund No.
304 and transfer the cash balance of Fund 304 to "Blacktop
Project 2007"Fund No. 307.
• Accept Treasurer's Report reflecting the closure of Fund 304 and
transfer to Fund 307.
Deadline/Timeline: N/A
Background: All debt obligations have been made for Blacktop Project 2004 as of
July 23, 2009. It has been the past practice of the City to transfer any
cash balance of blacktop funds that are closed into the next blacktop
fund.
Recommendation: Approve requested actions.
Attachments/ • Resolution No. 08-17-10-01
Materials provided:
Contact(s):
Prepared by: Colleen Firkus, Treasurer
Fund transfer report)
Page 1 of 1
08/11/10
CITY OF SCANDIA
RESOLUTION NO. 08-17-10-01
CLOSING OF "BLACKTOP PROJECT 2004" FUND NO. 304
AND TRANSFERRING THE BALANCE OF FUND 304 TO
"BLACKTOP PROJECT 2007" FUND NO. 307
WHEREAS,the City of Scandia has met its debt obligation for Blacktop Project 2004
Debt Service Fund 304 as of July 23, 2009, when the last payment was made to Security State
Bank,
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Scandia
does approve the closing of Fund 304 and transferring any cash balance to Fund 307.
Adopted by the Scandia City Council this 17th day of July, 2010.
Dennis D. Seefeldt, Mayor
ATTEST:
City Clerk/Administrator