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<br />RESOLUTION 07-_ <br /> <br />A RESOLUTION OF THE CITY OF ELK RIVER <br /> <br />A RESOLUTION AUTHORIZING A TRANSFER FROM THE GENERAL FUND <br />TO THE CAPITAL OUTLAY RESERVE FUND <br /> <br />WHEREAS, The City of Elk River's Financial Management Plan includes a General Fund Balance <br />policy in excess of forty percent shall be allocated to other purposes at the discretion <br />of the City Council; and, <br /> <br />WHEREAS, The City Council has requested that the minimum unreserved balance in the General <br />Fund for 2006 be 41.50 percent; and, <br /> <br />WHEREAS, The City Council has considered the various uses of the balance in excess of 41.50 <br />percent; <br /> <br />NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Elk River <br />makes the following transfer of funds from the 2006 General Fund Balance: <br /> <br />Capital Ouday Reserve Fund $424,674 <br /> <br />Passed and adopted this _ day of <br /> <br />20_. <br /> <br />Stephanie Klinzing, Mayor <br /> <br />ATTEST: <br /> <br />Tina Allard, City Clerk <br /> <br />S:\Council\ Tim \FundBalance allocation. doc <br />