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Cagy of kik River <br />City council <br />Resolution 17- 75- <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 20`s day of November 2017. <br />J41n J. l6ietz, Mayor <br />ATTEST: <br />Tina Allard, City Clerk <br />rrrEaEe it <br />NATURE <br />