HomeMy WebLinkAbout99-072 CITY OF LAKEVILLE
i RESOLUTION
.Date April 5, 1999 Resolution 99-72
Motion By Mulvihill Seconded By Luick
RESOLUTION AMENDING THE 1999
.MUNICIPAL RESERVES FUND BUDGET
BE IT RESOLVED, by the City Council of the City of Lakeville, Minnesota, that the following
Municipal Reserves Fund Budget is hereby approved and amended for the fiscal year ended
December 31, 1999.
1999 1999
ADOPTED AMENDED
BUDGET ADJUST BUDGET iVOTES
Revenues
Transfers from other funds for Excess Liability Coverage:
General Fund $ 26,915 $ 26,915
Utility Funds 6,763 6,763
Liquor Fund 3,414 - 3,414
Total excess liability 37,092 - 37,092
Transfers from other funds for Liability and Property Coverage:
General Fund 207,433 207,433 (1)
Utility Funds 50,345 50,345 (1)
Liquor Fund - 27,868 27,868 (1)
Total liability and property - 285,646 285,646
Workers compensation 87,632 (12,636) 74,996 (2)
Interest on Investments 24,405 - 24,405
Total other 112,037 (12,636) 99,401
Total revenues 149,129 273,010 422,139
Expenditures
Liability and property insurance 176,022 .176,022 (3)
Liability insurance claims/ded. 10,500 62,033 72,533 (4)
Municipal Reserves administration charge 25,295 25,295
Workers compensations premiums 116,843 (16,848) 99,995 (2)
Total Expenditures 152,638 221,207 373,845
Net Increase/(Decrease) (3,509) .51,803 48,294
Fund Balance, January 1 406,756 - 406,756
• Fund Balance, December 31 $ 403,247 $ .51,803 $ 455,050
(continued)
t
RESOLUTION AMENDING THE 1999
MUNICIPAL RESERVES FUND BUDGET
(continued)
APPROVED AND AMENDED by the City Council of the City of Lakeville, Minnesota,
this 5th day of April, 1999.
CITY OF KEVILLE
Dua a Zaun, Mao
T S ~ ,,ff
~w'
Charlene Friedges, City Cler
•
CITY OF LAKEVILLE
1999 MUNICIPAL RESERVES BUDGET AMENDMENT NOTES
ADJUSTMENT
(1) Increase revenues charged to various City Funds for their share of liability and
property insurance coverage.
General Fund 207,433
Utility Funds ~ 50,345
Liquor Fund 27,868
Increase Fund Balance, December 31, 1999 285,646
(2) Reduce revenues charged to various City Funds for their share of workers
compensation costs, along with a corresponding reduction in workers
compensation premiums.
Revenues -Workers compensation (12,636)
Expenditures -Workers compensation premiums (16,848)
Increase Fund Balance, December 31, 1999 4,212
(3) Appropriations for LMCIT liability, property and casualty insurance premiums.
Liability and property insurance 176,022
Reduce Fund Balance, December 31, 1999 (176,022)
(4) Increase appropriations for insurance claims based on the $25,000 deductible
coverage through LMCIT.
Liability insurance claims and deductibles 62,033
Reduce Fund Balance, December 31, 1999 (62,033)