RESOLUTION #10-92

Approving transfer of funds from Sewer Operating fund to Sewer Capital Improvement Fund, with an effective transfer date of June 30, 2010.

WHEREAS, The Sewer Capital Improvement Account has expenditures for FY ’10 that exceed its’ available cash by the sum of $15,924.42, and

WHEREAS, From bookkeeping and accounting standpoint the expenses of the Sewer Capital Improvement Account need to be covered and said account cannot end the fiscal year as a negative.

NOW, THEREFORE, BE IT RESOLVED that the City Council of Monticello, Iowa does hereby approve of a transfer from the Sewer Operating Fund to the Sewer Capital Improvement Fund in the amount of $15,924.42 to be treated as having been transferred on June 30, 2010, same being necessary to cover the FY ’10 Sewer Capital Improvement fund Expenditures.