HomeMy WebLinkAboutCC-02-06-23-07 Transfers Funds from General Fund to Rainy Day Fund, Per City Code
SPONSORS: Aasen, Finkam
and Rider
This Resolution was prepared by Jon Oberlander, Corporation Counsel, on January 25, 2023, at 2:01 p.m.
No subsequent revision to this Resolution has been reviewed by Mr. Oberlander for legal sufficiency.
RESOLUTION CC 02-06-23-07
A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF CARMEL,
INDIANA, TRANSFERRING FUNDS FROM THE GENERAL FUND #101 TO THE
RAINY DAY FUND
Synopsis: Transfers $1,034,292 from the General Fund to the Rainy Day Fund, pursuant
to Carmel City Code Section 2-110(d), which requires that the Rainy Day Fund balance on
January 1, 2023, must equal or exceed ten percent (10%) of the 2023 General Fund budget
adopted by the Council in 2022.
WHEREAS, pursuant to Indiana Code, the Common Council of the City of Carmel,
Indiana, is the fiscal body of the City of Carmel, Indiana;
WHEREAS, Carmel City Code Section 2-110(d) requires that the Rainy Day Fund
balance on January 1, 2023, must equal or exceed ten percent (10%) of the 2023 General Fund
budget adopted by the Council in 2022;
WHEREAS, the Rainy Day Fund balance as of January 1, 2023 is $11,828,768; and
WHEREAS, the 2023 General Fund budget equals $128,630,060.
NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of
Carmel, Indiana, as follows:
Section 1: That the foregoing Recitals are incorporated herein by this reference.
Section 2: That the Controller is hereby authorized and directed to transfer the following
sums of money from the General Fund operating balance, subject to applicable laws:
FROM
$1,034,292 from General Fund (Fund #101) unappropriated, unencumbered operating
balance
TO
Rainy Day Fund (Fund #912) operating balance.
This Resolution shall become effective upon its passage and execution by the Common
Council and the Mayor as required by law.
Resolution CC 02-06-23-07
Page One of Two Pages
DocuSign Envelope ID: A892083F-EB7E-4F98-91E5-0F487BDDACFC
SPONSORS: Aasen, Finkam
and Rider
This Resolution was prepared by Jon Oberlander, Corporation Counsel, on January 25, 2023, at 2:01 p.m.
No subsequent revision to this Resolution has been reviewed by Mr. Oberlander for legal sufficiency.
SO RESOLVED, by the Common Council of the City of Carmel, Indiana, this ____ day
of ________, 2023, by a vote of _____ ayes and _____ nays.
COMMON COUNCIL FOR THE CITY OF CARMEL
___________________________________
Jeff Worrell, President Laura Campbell, Vice-President
___________________________________ ____________________________________
Kevin Rider Sue Finkam
___________________________________ ____________________________________
Anthony Green Adam Aasen
___________________________________ ___________________________________
Tim Hannon Miles Nelson
___________________________________
Teresa Ayers
ATTEST:
__________________________________
Sue Wolfgang, Clerk
Presented by me to the Mayor of the City of Carmel, Indiana this ____ day of
_________________________ 2023, at _______ __.M.
____________________________________
Sue Wolfgang, Clerk
Approved by me, Mayor of the City of Carmel, Indiana, this _____ day of
________________________ 2023, at _______ __.M.
____________________________________
James Brainard, Mayor
ATTEST:
___________________________________
Sue Wolfgang, Clerk
Resolution CC 02-06-23-07
Page Two of Two Pages
DocuSign Envelope ID: A892083F-EB7E-4F98-91E5-0F487BDDACFC
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