HomeMy WebLinkAbout2013-024RESOLUTION OF THE CITY OF . . WASHINGTON
EMERGENCYAUTHORIZING A SHORT TERM INTERFUND LOAN TO THE
;L SERVICES FUND FROMGROWTH
MANAGEMENT W
WHEREAS, Ordinance 1 11 - the Finance Director to manage th-Short-
Term
WHEREAS, CertainFunds that are the recipientof Property T. -s could be subject to
short-fall of a • fund balances • of • prior to actually • property
a• and
WHEREAS, during thoseperiods prior to Property dollars being received,
operating • may require a short term interfund loan to cover a negative• • fund balancA
until property taxes are received, the majority being received in April/Mayand
October/November of each year; and
WHEREAS, loans were needed at the end of February and March 2013 in the total
amount of $127,272; and
MedicalWHEREAS, the Emergency - • should pay interest on •. -
to the monthly Local Government Investment Pool rate managed by the State Treasurer's
•. - -r. IMill - • a ,i 1
NOW THEREFORE, BE RESOLVED • of of Arlingto
Washington, does hereby. and approve ; • Tenn Interfund Loans in made Februal
and March 2013 from the Growth Management Fund to the Emergency Medical Services Fund,
PASSED AND ADOPTED by • of of Arlington of
Washington on this 4th day of November, 2013.
CITY OF •
l
Barl�a_ra'�Tolbert. Mayor
ATTEST:
l�ristii Banfield, CityVi
Bi-
2013 Interfund Loans
FROM:
Growth Fund
TO:
Emergency Medical Services Fund
Interest to be repaid at the Local Government Investment Pool monthly rate
Interest
Payments Loan
-Date
Loan Amount
-$
Charges
Interest Principal Balance
—
�/28/2013—
33,670.00
$
$ $ $ 33,670.00
3/31/2013
93,602.00
5.02
- 127,272.00
4/30/2013
17.71
22.73 13,782.00 113,490.00
5/31/2013
12.68
12.68 113,490.00
6/30/2013
7/31/2013
8/31/2013
-
9/30/2013
112,933.00
112,933.00
10/31/2013
11/30/2013
Cause: Expect Property Tax Revenues in May to repay the February and March loans
Cause: Expect Property Tax Revenues in November to repay the September and October loans
Local Gov. Investment Pool Rate 1/31/2013
0.1745%
2/28/2013
0.1650%
3/31/2013
0.1789%
4/30/2013
0,1670%
5/31/2013
0,1341%
6/30/2013
0,1236%
7/31/2013
0,1197%
8/31/2013
0.1230%
9/30/2013
0.1230%