Title
Transfer Funds to Restricted Surplus - Entwistle Community Development
Proposed Motion
That Council approve the transfer of funds to the Restricted Surplus - Entwistle Community Development.
Body
Administration Recommendation
Administration supports the proposed motion.
Purpose
To transfer Unrestricted Surplus funds of $26,816 consisting of $4,873 operating surplus Entwistle and $21,943 capital surplus Entwistle into the Restricted Surplus - Entwistle Community Development.
Summary
As a result of the dissolution of the Village of Entwistle effective January 1, 2001, Parkland County has recorded Unrestricted Surplus of $4,873 for operating surplus Entwistle and $21,943 for capital surplus Entwistle (Attachment I). A transfer of these funds to the Restricted Surplus - Entwistle Community Development will provide funding for initiatives that enhance or enrich the quality of life for residents of Entwistle.
Strategic Plan/Policy/Legal/Staff Implications
Strategic Plan - Governance Goal 1: Parkland County will be recognized as a well-led, well-managed municipality with a solid foundation of sound policies, good planning, responsive processes and effective decision-making that are focused on the responsible use of the resources entrusted to it and the long-term best interests of the community as a whole.
Financial Impact:
Cost: $ 0.00
Source of Funding: Reduction of Unrestricted Surplus and an increase in Restricted Surplus - Entwistle Community Development in the amount of $26,816