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HomeMy WebLinkAboutResolution No. 2018-082 Amending Budget for FY 2018 RESOLUTION NO. 2018-082 RESOLUTION AMENDING THE BUDGET FOR THE CITY OF EDINA FOR THE YEAR 2018 Whereas, the City Council adopted Resolution No. 2017-135 Setting the 2018 Tax Levy and Adopting 2018 Operating Budget on December 5, 2017. Whereas, the 2017 Comprehensive Annual Financial Report presented to the Council on June 19, 2018, reported an unassigned fund balance in the General Fund of$2,264,771. 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 2018 budget is amended to transfer from the General Fund to the Construction Fund $2,039,771. Passed and adopted by the City Council on September 20, 2018. h/ ATTEST: GL Debra A. Mangen, City Cle I< Mary Brindle, Mayor Pro Tem 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 September 20, 2018, and as recorded in the Minutes of said Regular Meeting. WITNESS my hand and seal of said City this day of 20 City Clerk CITY OF EDINA 4801 West 50th Street•Edina,Minnesota 55424 www.EdinaMN.gov•952-927-8861 •Fax 952-826-0390