HomeMy WebLinkAbout21-117CITY OF LAKEVILLE
RESOLUTION NO. 21-117
Resolution Amending the 2021 Budgets, Authorizing Transfers and
Establishing the Compensated Leave Fund
WHEREAS, the 2021 budgets were adopted on December 7, 2020; and
WHEREAS, the City Council discussed at their August 23, 2021 work session using General Fund
reserves to fund capital purchases and projects associated with the 2022-2026 Capital
Improvement Program to mitigate the pressures on the property tax levy and user fees and
establishing the Compensated Leave Fund; and
WHEREAS, as of December 31, 2020, the City Council has committed $200,000 of the General
Fund reserves to partially fund projected compensated leave liability.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Lakeville, Minnesota
as follows:
1. The recitals set forth above are incorporated herein.
2. Staff is authorized to establish the Compensated Leave Fund.
3. The 2021 General Fund budget is amended in the amount of $2,111,032 for transferring funds
as follows:
Equipment Fund
$ 525,000
Park Improvement Fund
100,000
Technology Fund
155,000
Building Fund
600,000
Trail Improvement Fund
200,000
Environmental Resources Fund
200,000
Compensated Leave Fund
200,000
Improvement Construction Fund
131,032
Total
$ 2,111,032
ADOPTED by the Lakeville City Council this 7th day of September 2021.
CITY OF LAKEVILLE
Douglas P. Anderson, Mayor
L-
Charlene Friedges, City COO