Resolution Approving Fund Transfers to Golf Capital Fund in Fiscal Year 2024 - Period 13City of Dubuque
City Council Meeting
Consent Items # 05.
Copyrighted
September 3, 2024
ITEM TITLE: Resolution Approving Fund Transfers to Golf Capital Fund in Fiscal Year
2024 — Period 13
SUMMARY: City Manager recommending City Council approval of the suggested
proceedings approving a transfer of funds for golf operations net income
to be designated for capital projects in the golf construction fund.
RESOLUTION Authorizing the Chief Financial Officer to make the
appropriate interfund transfers of sums and record the same in the
appropriate manner for the FY 2024 for the City of Dubuque, Iowa
SUGGESTED Suggested Disposition: Receive and File; Adopt Resolution(s)
DISPOSITION:
ATTACHMENTS:
Description Type
MVM Memo City Manager Memo
Staff Memo Staff Memo
Resolution Resolutions
Masterpiece on the Mississippi
Dubuque
Itzetzl
All -Merin iee City
111111
2007*2012*2013
2017*2019
TO: The Honorable Mayor and City Council Members
FROM: Michael C. Van Milligen, City Manager
SUBJECT: Resolution Approving Fund Transfers to Golf Capital Fund in Fiscal Year
2024 — Period 13
DATE: August 19, 2024
Chief Financial Officer Jennifer Larson recommends City Council approval of the
suggested proceedings approving a transfer of funds for golf operations net income to
be designated for capital projects in the golf construction fund. Iowa Administrative
Rules Code 545-2.5(5), which implements Iowa Code Section 384.18, was amended to
require that all transfers of money from one budgeted fund to another budgeted fund
must be approved by a resolution beginning April 13, 2019.
In Fiscal Year 2024, $333,882 is recommended to be transferred from the General Fund
to the Golf Construction Fund for net income generated in golf operations in Fiscal Year
2021($71,144), Fiscal Year 2022 ($99,028), Fiscal Year 2023 ($74,971), and Fiscal
Year 2024 ($88,739) designated for future golf construction projects.
I concur with the recommendation and respectfully request Mayor and City Council
approval.
'Ai/144
Michael C. Van Milligen
MCVM/jml
Attachment
cc: Crenna Brumwell, City Attorney
Cori Burbach, Assistant City Manager
Jennifer Larson, Chief Financial Officer
Masterpiece on the Mississippi
Dubuque
tretri
All -America City
1 1 I I' I
2007.2012.2013
2017*2019
TO: Michael C. Van Milligen, City Manager
FROM: Jennifer Larson, Chief Financial Officer
SUBJECT: Resolution Approving Fund Transfers to Golf Capital Fund in Fiscal Year
2024 — Period 13
DATE: July 25, 2024
INTRODUCTION
The purpose of this memorandum is to recommend approval of the fund transfers for
Fiscal Year 2024 resolution.
BACKGROUND
Iowa Administrative Rules Code 545-2.5(5), which implements Iowa Code Section
384.18, was amended to require that all transfers of moneys from one budgeted fund to
another budgeted fund must be approved by a resolution beginning April 13, 2019. The
transfer resolution must include the following items:
1. Statement of where the money is coming from and going to.
2. The exact amount of money being transferred.
3. A clearly stated reason why the transfer is being made.
These resolution items will also need to be included as part of the budget adoption
resolution passed each March if transfers are shown in the adopted budget. For utility
surplus transfers, as defined in Administrative Rules Code 545-2.5(5), a clear
calculation proving the existence of the proposed surplus in the utility must also be
included in the transfer resolution.
DISCUSSION
Capital projects and other obligations have transfers budgeted from other funds.
Throughout the fiscal year, funds are transferred to reimburse these obligations. The
total transfer requested from the general fund for golf operations net income to be
designated for capital projects in the golf construction fund through June 30, 2024, is
$333,882.
RECOMMENDATION
I respectfully recommend the adoption of the enclosed resolution approving the transfer
of funds for special assessments.
JML
2
Prepared by Jennifer Larson, Chief Financial Officer, 50 W. 13"' St., Dubuque, IA 52001, (563) 589-4322
Return to Adrienne N. Breitfelder, City Clerk, 50 W. 13th St., Dubuque, IA 52001, (563) 589-4100
RESOLUTION NO. 264-24
A RESOLUTION AUTHORIZING THE CHIEF FINANCIAL OFFICER TO MAKE
THE APPROPRIATE INTERFUND TRANSFERS OF SUMS AND RECORD
THE SAME IN THE APPROPRIATE MANNER FOR THE FY 2024 FOR THE
CITY OF DUBUQUE, IOWA
Whereas, Iowa Administrative Rules Code Section 545-2.5(5) implements Iowa Code
Section 384.18 and provides that the City Council shall approve all transfers of moneys from
one budgeted fund to another budgeted fund as provided in Iowa Administrative Rules Code
Section 545-2.5(5).
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
DUBUQUE, IOWA:
Section 1. Authorize the Chief Financial Officer to Transfer Funds. That the Chief
Financial Officer be and is hereby authorized by the City Council to make the appropriate
interfund transfer of sums and record the same in the appropriate manner for FY 2024.
Section 2. Transfer of Funds. That the Chief Financial Officer will transfer the
following sums and to record the same in the appropriate manner:
1. Transfer from the General Fund to the Golf Capital Construction Fund $333,882
for net income generated in golf operations in Fiscal Year 2021($71,144), Fiscal
Year 2022 ($99,028), Fiscal Year 2023 ($74,971), and Fiscal Year 2024
($88,739) designated for future golf construction projects.
Passed, approved and adopted this 3rd day of September 2024.
Brad M. Cava :gh, Mayor
Attest:
Adrienne N. Breitfelder, City Clerk