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<br />. <br /> <br />. <br /> <br />. <br /> <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 Outlay Reserve Fund $424,674 <br /> <br />Passed and adopted this 2nd day of April 20 07. <br /> <br />~'~ <br /> <br />Stepha 'e Klinzing, May <br /> <br />A1TE[S~':J <br /> <br /> <br />c_---,///</ <br /> <br /> <br />Tina Allard, City Clerk <br /> <br />s: \Council\ Tim \FundBalance allocation,doc <br />