2026-28.docxCITY OF CHANHASSEN
CARVER AND HENNEPIN COUNTIES, MINNESOTA
DATE: April 13, 2026 RESOLUTION NO: 2026-28
MOTION BY: McDonald SECONDED BY: von Oven
RESOLUTION APPROVING INTERFUND LOANS FOR
FINANCIAL REPORTING FOR FISCAL YEAR 2025
WHEREAS, for purposes of the City’s 2025 Annual Comprehensive Financial Report (ACFR),
all cash balance deficits in individual funds must be eliminated by either an interfund transfer or
an interfund loan effective December 31, 2025; and
WHEREAS, the Pavement Management Project Fund has a cash balance deficit for the year-
ended 2025 of $6,194,058.23; and
WHEREAS, the Surface Water Management Fund has a cash balance deficit for the year -ended
2025 of $1,409,981.67; and
WHEREAS, the Surface Water Management Fund had a temporary interfund loan from the
Water Fund for the year-ended 2024 of $1,060,000.00 that staff recommends renewing; and
WHEREAS, the TIF #12 Fund had a temporary interfund loan of $21,000 for the year ended
2024 that staff recommends renewing for $6,000; and
WHEREAS, staff recommends the following temporary interfund loans for the fiscal year 2025
as listed in the table below.
Interfund Loan from Fund Interfund Loan to Fund Amount
General Fund Pavement Management Project Fund $6,195,000
General Fund TIF #12 $6,000
Water Fund Surface Water Management Fund $1,060,000
Sewer Fund Surface Water Management Fund $1,410,000
NOW, THEREFORE, BE IT RESOLVED, BY THE CITY COUNCIL OF
CHANHASSEN, MINNESOTA AS FOLLOWS:
1. Interfund Loans: Interfund loans (the “Loans”) shall be made from the funds listed
below to be repaid from bond proceeds or other sources to the funds below as follows:
Interfund Loan from Fund Interfund Loan to Fund Amount
General Fund Pavement Management Project Fund $6,195,000
General Fund TIF #12 $6,000
Water Fund Surface Water Management Fund $1,060,000
Sewer Fund Surface Water Management Fund $1,410,000
2. Terms: The Loans shall not bear interest and shall mature on December 31, 2026.
3. Note: The Loans shall not be evidenced by a note or writing other than this resolution.
Docusign Envelope ID: C7C71D4F-4923-4EF0-B2A0-C6B22F6770A2
PASSED AND ADOPTED by the Chanhassen City Council this 13th day of April 2026.
ATTEST:
Jenny Potter, City Clerk Elise Ryan, Mayor
YES NO ABSENT
Ryan
von Oven
Schubert
Kimber
McDonald
Docusign Envelope ID: C7C71D4F-4923-4EF0-B2A0-C6B22F6770A2