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City of <br /> Elk City of Elk River <br /> Wver City Council <br /> Resolution 17- <br /> A Resolution of the City Council of the City of Elk River Authorizing a <br /> Transfer from the General Fund to the Park Improvement Fund and Capital <br /> Outlay Reserve Fund <br /> WHEREAS, The City of Elk River's Financial Management Policies includes a General <br /> Fund Balance policy in excess of forty five percent shall be allocated to other purposes at the <br /> discretion of the City Council. <br /> WHEREAS, The City Council has designated that the unassigned fund balance in the <br /> General Fund be a minimum of 40 percent and a maximum of 45 percent. <br /> WHEREAS, The City Council has considered the various uses of the balance in excess of <br /> the 45 percent. <br /> NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Elk <br /> River,Minnesota, as follows: transfer funds from the General Fund balance to: <br /> Park Improvement Fund $119,382.35 <br /> Capital Outlay Reserve Fund $147,449.65 <br /> Passed and adopted this 201h day of November 2017. <br /> John J. Dietz,Mayor <br /> ATTEST: <br /> Tina Allard, City NATUREJ <br />