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LETTER to the DECATUR CITY COUNCIL <br /> Finance Department <br /> DATE: January 12, 2021 <br /> TO: Honorable Mayor Moore Wolfe and City Council Members <br /> FROM: Scot Wrighton, City Manager <br /> Gregg D. Zientara, City Treasurer& Director of Finance <br /> SUBJECT: Resolution Authorizing the City of Decatur to Provide an Interfund Cash Advance <br /> to Certain Funds to Affect a Positive Cash Position as of the Close of Business <br /> as of December 31, 2020 <br /> SUMMARY RECOMMENDATION: <br /> City Administration recommends City Council approval of the attached Council Resolution. <br /> BACKGROUND: <br /> Funds of the City must have monies in an amount to affect a positive cash position as of the <br /> end of the fiscal year, in accordance with ordinance and state statute. <br /> Certain city funds are in a position due to unforeseen circumstances to not have a positive <br /> cash position as of December 31, 2020. <br /> Therefore, it is necessary for the City of Decatur to provide an interfund cash advance to <br /> these certain funds, to affect a positive cash position as of December 31, 2020. <br /> State Motor Fuel Tax Fund—Interfund cash advance in the amount of$955,000 is necessary. <br /> City Treasurer will affect interfund cash advances in such amount as is necessary to secure <br /> positive cash positions. <br /> Interfund cash advance(s) will be repaid in full in 2021 at such time that the Fund(s) have <br /> sufficient monies to repay the interfund cash advance. <br /> POTENTIAL OBJECTION: <br /> There are no known objections to this resolution request. <br /> INPUT FROM OTHER SOURCES: <br /> No input from other sources. <br /> Page 1 of 2 <br />