HomeMy WebLinkAboutCC-10-07-24-03 Transfer of Funds - General Fund to Rainy Day Fund Final
SPONSORS: Green and Aasen
This Resolution was prepared by Samantha S. Karn, Corporation Counsel, on September 23, 2024, at
2:01 p.m. No subsequent revision to this Resolution has been reviewed by Ms. Karn for legal sufficiency.
RESOLUTION CC 10-07-24-03
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 $1,740,590 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, 2024, must equal or exceed ten percent (10%) of the 2024 General Fund budget
adopted by the Council in 2023.
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, 2024, must equal or exceed ten percent (10%) of the 2024 General Fund
budget adopted by the Council in 2023;
WHEREAS, the Rainy Day Fund balance as of January 1, 2024 is $12,863,060; and
WHEREAS, the 2024 General Fund budget equals $146,036,504.
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
$1,740,590 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 10-07-24-03
Page One of Two Pages
Docusign Envelope ID: 98451C03-3FDF-4CC1-89D2-C5902F8C15A4
SPONSORS: Green and Aasen
This Resolution was prepared by Samantha S. Karn, Corporation Counsel, on September 23, 2024, at
2:01 p.m. No subsequent revision to this Resolution has been reviewed by Ms. Karn for legal sufficiency.
SO RESOLVED, by the Common Council of the City of Carmel, Indiana, this
day of _ , 2024, by a vote of _____ ayes and____ nays.
COMMON COUNCIL FOR THE CITY OF CARMEL
Anthony Green, President Adam Aasen, Vice-President
______
Rich Taylor Matthew Snyder
Jeff Worrell Teresa Ayers
Shannon Minnaar Ryan Locke
Anita Joshi
ATTEST:
______________________________
Jacob Quinn, Clerk
Presented by me to the Mayor of the City of Carmel, Indiana this day of
______ 2024, at _.M.
Jacob Quinn, Clerk
Approved by me, Mayor of the City of Carmel, Indiana, this day of
2024, at _.M.
Sue Finkam, Mayor
ATTEST:
Jacob Quinn, Clerk
Resolution CC 10-07-24-03
Page Two of Two Pages
Docusign Envelope ID: 98451C03-3FDF-4CC1-89D2-C5902F8C15A4
Not Present
October 87th
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