Resolution Number 12-16 Financial
RESOLUTION NUMBER 12-16
TRANSFERRING FUNDS FROM THE GENERAL FUND TO THE CAPITAL IMPROVEMENT FUND AT THE END OF THE 2015 FISCAL YEAR
WHEREAS, the need presents itself for the transfer of funds from one city fund to the other to maintain the proper fund balance and fund future Capital Improvement Projects, and
WHEREAS, these transfers need to occur at the end of the City’s 2015 fiscal year.
NOW THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF MOUNTAIN IRON, MINNESOTA that the following transfers take place at the end of the City’s 2015 fiscal year:
$300,000 is transferred from General Fund – Unreserved Fund balance to Capital Improvement – Unreserved Fund balance.
DULY ADOPTED BY THE CITY COUNCIL THIS 16th DAY OF FEBRUARY, 2016.
Mayor Gary Skalko