HomeMy WebLinkAboutRES 2009-12 - Board ` TRUCKEE D O f
Resolution No. 2009 - 12
APPROVING THE CONSOLIDATION OF
BOARD DESIGNATED RESERVE FUNDS AND
EXTINGUISHING INTERNAL LOANS
WHEREAS, it is within the purview of the Board of Directors to make changes in the
structure of the District's reserve funds; and
WHEREAS, several of the Board designated funds now have overlapping purposes; and
WHEREAS, the District has previously utilized funds from these Board designated funds
for purposes other than the original designation, in the form of board-approved internal
loans; and
WHEREAS, the accounting and reporting of these funds and internal loans has become
more complex; and
WHEREAS, it is the intent of the Board to simplify the accounting and reporting of these
funds; and
NOW THEREFORE, BE IT RESOLVED, that the Board of Directors does hereby approve
the following:
A. The $84,005.37 internal loan against the Storm Damage Reserve for 2006
broadband expenditures to be extinguished using the Electric Department's General
Fund.
B. The $410,147.34 internal loan against the Reserve for Future Water Meters Fund
for the 2002 deficit to be extinguished using the Land Sales Fund.
C. The $329,690.93 internal loan against the Reserve for Future Water Meters Fund
for water system improvement projects to be extinguished using the Land Sales
Fund.
D. The $84,005.37 internal loan against the Reserve for Future Water Meters Fund for
2006 broadband expenditures to be extinguished using the Electric Department's
General Fund.
E. The $329,140.50 internal loan against the Land Sales Fund for the Steele Property
purchase to be extinguished by the same fund.
1 Resolution 2009-12
F. The $164,201.80 internal loan against the Land Sales Fund for the 2002 deficit to
be extinguished by the same fund.
G. $160,000.00 to be transferred from the Electric Department's General Fund to the
new Vehicle Reserve Fund. (This funding is included in the Department's approved
FY09 Budget.)
H. $140,000.00 to be transferred from the Water Department's General Fund to the
new Vehicle Reserve Fund. (This funding is included in the department's approved
FY09 Budget.)
I. To merge the Electric Department's Storm Damage Fund with the Electric
Operating Reserves.
J. To merge the Electric Department's Building Fund with the Electric Capital
Replacement Fund.
K. To merge the Water Department's Land Sales Fund with the Water Capital
Replacement Fund.
PASSED AND ADOPTED by the Board of Directors at a meeting duly called and held
within the District on March 18, 2009 by the following roll call vote:
AYES: Directors Aguera, Hemig and Hillstrom
ABSTAIN: None
NOES: None
ABSENT: Directors Bender and Sutton
TRUCKEE DON PUBLIC UT I ITY DISTRICT
By
_ 9 0 <4P,t 4
J. Rcffemig, President
ATTEST:
Michael D. Holley, Clerk of the Boar
2 Resolution 2009-12