HomeMy WebLinkAboutResolution 2016 (25) Resolution No. 25 (2016)
ST R O .,, RESOLUTION APPROVING A 2016 BUDGET AMENDMENT
' ' ALLOWING FOR THE TRANSFER OF FUNDS FROM THE
UNDESIGNATED FUND BALANCE AND THE JAIL
IMPROVEMENT FUND BALANCE TO FUND UP TO A
MAXIMUM OF $1.444M OF 2016 CIP,AND IN ADDITION
ESTABLISH A CAP ON THE DRAWDOWN OF THE $5M
STATE TRUST FUND LOAN
1 WHEREAS, on February 2, 2016 the County Board passed Resolution 17(2016)
2 authorizing the borrowing of$5,000,000 from the State Trust Fund for payment of items on the
3 2016 - 2020 Capital Improvement Plan; and
4
5 WHEREAS, at that meeting, members of the County Board suggested that borrowing
6 under the State Trust Fund Loan be limited to $3,707,099 and the balance of projects listed in the
7 2016 Capital improvement plan in excess of$3,707,099 be funded from the application of
8 Unassigned Fund Balance in the General Fund and an appropriation from the Jail Improvement
9 Fund of$50,000; and
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11 WHEREAS, the use of Unassigned Fund Balance will leave a balance estimated to be in
12 excess of requirements under the St. Croix County Fund Balance Policy; and
13
14 WHEREAS, a budget amendment by the County Board is required.
15
16 THEREFORE, be it resolved that the St. Croix County Board of Supervisors authorizes
17 the amendment of the 2016 County Budget to expend $1,444,000 from the general fund and
18 $50,000 from the Jail Improvement Fund for the purchase of projects specified in the 2016
19 Capital Improvement Plan.
20
21 ACCOUNT NAME ACCOUNT NUMBER DEBIT CREDIT
22
23 Capital Outlay 400-000000-584xx-xxxx $1,494,000
24 Transfer from General Fund 400-000000-49225-0000 $1,444,000
25 Transfer from Jail Imp. Fund 400-000000-49221-0000 $ 50,000
26
27 Transfer to Capital Fund 100-000000-59217-0000 $1,444.000
28 Gen Fund Surplus Applied 100-000000-49999-0000 $1,444,000
29
30 Transfer to Capital Fund 209-000000-59217-0000 $ 50,000
31 Jail Imp. Fund Surplus App 209-000000-49999-0000 $ 50,000
32
33 FURTHER be it resolved that the drawdown of the State Trust Fund loan shall not exceed
34 $3,707,099, unless further authorized by the St. Croix County Board of Supervisors.
Legal—Fiscal—Administrative Approvals:
Legal Note:
Fiscal Impact: Adoption of this resolution will reduce the amount of potential new debt from
$5,000,000 to$3,707,099. It will also reduce the Unassigned Fund Balance of the
County by an amount up to$1,444,000 and will reduce the Assigned Fund Balance
of the Jail Improvement Fund by$50,000.
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02/17/16 Administration Committee APPROVED
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RESULT: APPROVED [3 TO 2]
MOVER: Roy Sjoberg, Supervisor
SECONDER: Ron Kiesler, Vice Chair
AYES: Travis Schachtner, Roy Sjoberg, Ron Kiesler
NAYS: Jill Ann Berke, Judy Achterhof
Vote Confirmation.
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St. Croix County Board of Supervisors Action:
Roll Call -Vote Requirement—Two-thirds Majority of Entire Membership (13)
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RESULT: ADOPTED [15 TO 3]
MOVER: Howard Novotny, Supervisor
SECONDER: Roy Sjoberg, Supervisor
AYES: Ring, Babbitt, Novotny, Sjoberg, Kilber, Nelson, Ostness, Larson, Hansen, Kiesler,
Brinkman, Peterson, Anderson, Leibfried, Peavey
NAYS: Carah Koch, Jill Ann Berke, Judy Achterhof
ABSENT: Travis Schachtner
This Resolution was Adopted by the St. Croix County Board of Supervisors on March 1, 2016
Cindy Campbell, County Clerk