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<br /> <br />City of Elk River <br />REQUEST FOR COUNCIL ACTION <br />Agenda Section Meeting Date <br />Consent A ril 3, 2006 <br />Item Description <br />Resolution Allocatin 200S General Fund Balance <br /> <br />Item Number <br />3.6. <br /> <br />Prepared by <br />Lori ohnson, Ci Administrator <br />Reviewed by <br /> <br />Introduction <br />The City's fInancial management plan requires that the fund balance in the General Fund in excess of <br />40 percent be allocated to other purposes at the discretion of the City Council. <br /> <br />Discussion <br />In previous years the City Council has set the fund balance at 41.S percent and allocated the amount over <br />that for capital equipment, pay adjustments, or other one-time expenditures. The attached resolution <br />allocates the balance over 41.S percent to capital equipment. <br /> <br />Further, the Community Development department requested $9,000 in the 2006 budget to purchase a <br />plotter. This item was deleted from the 2006 budget with the intent that it be purchased in 200S. Because <br />of staff changes in the department, that did not happen. I am recommending that $9,000 of the 200S <br />allocation be used to purchase this equipment. <br /> <br />Financial Impact <br /> <br />Attachments <br /> <br />Resolution allocating the 200S General Fund balance. <br /> <br />Action Requested <br /> <br />Consider attached resolution and authorize purchase of a $9,000 plotter from the allocation. <br /> <br />Council Action <br /> <br />Motion by _ <br /> <br />Second by _ <br /> <br />Vote <br /> <br />Follow Up <br /> <br />S:\Council\Lori\2006\Gen Fund Alloca.doc <br />