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Council authorizes $1.64M in year‑end transfers to meet fund‑balance policy
Summary
Finance staff recommended and the council unanimously approved transfers totaling approximately $1.64 million to bring the general fund to a 35% reserve target and the Communications and License Center funds to their low targets; transfers will draw from License Center surplus, cash reserves and Parks & Recreation.
The Roseville City Council authorized year‑end accounting transfers on May 4 to bring several city funds into alignment with the city’s fund‑balance policy.
Finance director Sam Magaranu presented the analysis and recommended transfers after auditors completed the 2025 financial close. He said the general fund, without entries, would fall below the policy low target of 35% to about 29.66% — a shortfall Magaranu quantified as…
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