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Crty or <br />Elk — <br />River <br />City of Elk River <br />City Council <br />Resolution 19- 56 <br />A Resolution of the City Council of the City of Elk River Authorizing a <br />Transfer from the General Fund to the Capital 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 and consented to the following. <br />NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Elk <br />River, Minnesota, as follows: The transfer of $237,813 from the General Fund balance to <br />the Capital Outlay Reserve fund. <br />Passed and adopted this 18th day of November 2019. <br />ATTEST: <br />J I ' <br />Tina Allard, City Clerk <br />u <br />o n Aietz,,or <br />POVIIII I <br />NATURE <br />