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HomeMy WebLinkAboutResolution 2021 (44) Resolution No. 44 (2021) ST RO LINTY RESOLUTION AUTHORIZING FUND BALANCE TRANSFER 1 WHEREAS, the unassigned general fund balance is over targeted range by $3,725,074; 2 and 3 4 WHEREAS, the CIP fund has planned projects over the next five years and fund balance 5 can be used to reduce the need for additional debt, thereby saving County taxpayers both debt 6 issuance costs and interest expenses in future years. 7 8 NOW, THEREFORE, BE IT RESOLVED that the St. Croix County Board of 9 Supervisors does authorizes a fund balance transfer for the above stated purposes to the accounts 10 listed below: 11 12 General Fund Unassigned Fund Balance 110-0000-000000-59540-00000-00000 debit$3,500,000 13 CIP Fund Balance 405-0000-000000-49210-00000-00000 credit$3,500,000 Legal-Fiscal-Administrative Approvals: Legal Note: Fiscal Impact: This fund balance transfer is a key step in allowing us to fund CIP projects without debt issuance,thereby saving taxpayers bond issuance expenses and interest expenses. cots .Cox,Corporation co&W 16/2021 41 JP�h L n on,Finance ©ir or 09/16a/2021 K4W , a 9/16/2021 09/21/21 Administration Committee RECOMMENDED ........ ......... ......... ......... ......... ......... ......... ......... ......... ......... ......... ......... ......... ......... ......... ......... RESULT: RECOMMENDED [UNANIMOUS] MOVER: David Peterson, Supervisor SECONDER: Scottie Ard, Vice Chair AYES: Long, Koch, Ard, Peterson, Peavey Vote Confirmation. ob Lang Administra,ton,Chai1 9/22/2021 SL Croix County Board of Supervisors Action: Roll Call -Vote Requirement— Majority of Supervisors Present ......... ......... ......... ......... ......... ......... ......... ......... ......... ......... ......... ......... ......... ......... ................. RESULT: ADOPTED [UNANIMOUS] MOVER: Scottie Ard, Supervisor SECONDER: Bob Long, Supervisor AYES: Schachtner, Anderson, Long, Koch, Hall, Berning, Ottino, Feidler, Ostness, Counter, Hansen, Ard, Tellijohn, Peterson, Anderson, Achterhof, Peavey EXCUSED: Cathy Leaf, Shelly Tomtschik This Resolution was Adopted by the St. Croix County Board of Supervisors on October 5, 2021 Cindy Campbell, County Clerk