HomeMy WebLinkAboutResolution No. 2021-95 Amending the Budget
RESOLUTION NO. 2021-95
RESOLUTION AMENDING THE BUDGET
FOR THE CITY OF EDINA FOR THE YEAR 2021
Whereas, the City Council adopted Resolution No. 2020-120 Setting the 2021 Tax Levy and
Adopting the 2021 Operating Budget on December 1, 2020.
Whereas, the 2020 Comprehensive Annual Financial Report presented to the Council on June
15, 2021, reported an unassigned fund balance in the General Fund of $4,503,106.
Whereas, the City’s goal is to maintain appropriate financial reserves in the General Fund, and
the City Council has adopted a fund balance policy for the General Fund. The fund balance policy
states that, to the extent possible, unassigned fund balance in the General Fund should be transferred
to the Construction Fund to support capital improvements and equipment.
NOW THEREFORE BE IT RESOLVED by the City Council of the City of Edina,
Minnesota, as follows:
The 2021 budget is amended to transfer from the General Fund to the Construction Fund
$4,203,106; of this amount, $160,000 is allocated to the Southdale Streetscape
Management Program. The 2021 budget is also amended to transfer from the General
Fund to the Edina Housing and Redevelopment Authority $300,000 for housing assistance.
Passed and adopted October 19, 2021.
ATTEST:
Sharon Allison, City Clerk James B. Hovland, Mayor
STATE OF MINNESOTA )
COUNTY OF HENNEPIN )SS
CITY OF EDINA )
CERTIFICATE OF CITY CLERK
I, the undersigned duly appointed and acting City Clerk for the City of Edina do hereby certify that
the attached and foregoing Resolution was duly adopted by the Edina City Council at its Regular
Meeting of October 19, 2021, and as recorded in the Minutes of said Regular Meeting.
WITNESS my hand and seal of said City this day of , 20 .
City Clerk