13-041CITY OF SHOREWOOD
RESOLUTION NO. 13 -041
A RESOLUTION APPROVING TRANSFERS OF FUNDS
WHEREAS, the City Council of Shorewood accepted the 2012 Comprehensive Annual
Financial Report on June 24, 2013; and
WHEREAS, that report shows that two funds have cash deficits at year end; and
WHEREAS, the City Council desires to resolve those deficits at the beginning of 2013
to allow the current year operations to stand on their own results; and
WHEREAS, the City Council has identified appropriate sources of funds to resolve
those deficits;
NOW THEREFORE, BE IT RESOLVED, that the City of Shorewood approves the
following transfers as of January 1, 2013:
1. That the sum of $34,576 be transferred into the Trail Construction Fund
from the Community Infrastructure Fund as anticipated in the Long Range
Financial Management Plan to reimburse that fund for the cost of
construct activities authorized in the Capital Improvement Plan.
2. That the sum of $40,749 be transferred into the Southshore Center Fund
from the General Fund to close the deficit incurred in 2012.
ADOPTED BY THE CITY COUNCIL of the City of Shorewood this 8th day of July,
2013.
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ATTEST:
I- falltl!f it
Jean Panchyshyn, City Clerk