HomeMy WebLinkAbout00-307 CITY OF LAKEVILLE
RESOLUTION
Date December 18, 2000 Resolution 00-307
Motion By Luick Seconded By Mulvihill
RESOLUTION AMENDING THE 2000
ECONOMIC DEVELOPMENT REVOLVING LOAN FUND BUDGET
BE IT RESOLVED, by the City Council of the City of Lakeville, Minnesota, that the following
Economic Development Revolving Loan Fund Budget is hereby approved and amended for the fiscal
year ending December 31, 2000.
2000 2000
ADOPTED AMENDED
BUDGET ADJUST .BUDGET NOTES
Revenues
Principal on ERF loan $ 11,954 $ 11,954
Interest on ERF loan 4,699 4,699
Interest on Investments 5,155 - 5,155
Total Revenues 21,808 - 21,808
Expenditures
State of Minnesota (repayment) - 16,706 16,706 (1)
Total Expenditures - 16,706 16,706
Net Increase/(Decrease) 21 808 16 706 5 102
( ) ,
Fund Balance, January 1 77,590 (2,708) 74,882- (2)
Fund Balance, December 31 $ 99,398 $ (19,414) $ 79,984
APPROVED AND AMENDED by the City Council of the City of Lakeville, Minnesota,
this 18th day of December, 2000.
CITY OF A EVILLE
BY:
Duane aun, Mayor
E
Charlene Friedges, City rk
CITY OF LAKEVILLE
2000 ECONOMIC DEVELOPMENT REVOLVING LOAN FUND
i
ADJUSTMENT
(1) Increase appropriations related to refunding a portion of the loan repayment
to the State of Minnesota.
Other Charges and Services 16,706
Reduce Fund Balance December 31, 2000 (16,706)
(2) Reduce the budgeted January 1, 2000 Fund Balance to reflect the actual
December 31, 1999. Fund Balance carryforward.
Actual Fund Balance January 1, 2000 74,882
Budgeted Fund Balance January 1, 2000 77,590
Reduce Fund Balance January 1, 2000 (2,708)