Resolution 60-99 Year End Maintenance

WHEREAS, the need presents itself for the maintenance and updating of various City Funds, and

WHEREAS, these changed are to occur at the end of the City�s 1999 fiscal year.

NOW, THEREFORE BE IT RESOLVED BY THE CITY COUNCIL OF MOUNTAIN IRON, MINNESOTA, that the following take place at the end of the City�s 1999 fiscal year:

Grants Fund � shall be eliminated and all balances transferred to the Capital Improvement Fund � Cash in Bank (Checking) and Unreserved Fund Balance.

Capital Improvement Fund � reserved for R.S.-Parks and Recreation ($4,557.25) shall be transferred to the Capital Improvement Fund � Unreserved Fund Balance.

Water Treatment Enterprise Fund � Asset Depreciation Funding line item shall be created into which all future annual budget depreciation expenses shall be allocated.

Waste Water Treatment Enterprise Fund � Asset Depreciation Funding line item shall be created into which all future annual budget depreciation expense shall be allocated.

Refuse Removal and Recycling Enterprise Fund � Asset Depreciation Funding line item shall be created into which all future annual budget depreciation expense shall be allocated.

Electric Enterprise Fund � all future annual budget depreciation expense shall be allocated to the Asset Depreciation Funding line item.

Refuse Removal and Recycling Enterprise Fund – $225,000 shall be transferred from the Refuse Removal and Recycling Enterprise Fund to the Capital Improvement Fund – Reserved for Community Center.

Electric Enterprise Fund – $225,000 shall be transferred from the Electric Enterprise Fund to the Capital Improvement Fund – Reserved for Community Center.

Any amount, after the aforementioned transfers, in excess of a General Fund balance of $1,000,000.00 shall be transferred from General Fund � Unreserved Fund balance to Capital Improvement � Unreserved Fund balance.

duly adopted by the City Council this 20th day of December, 1999.