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E. Budget Amendment #062 - Federal Revenue Sharing <br />The_Board reviewed the following memo dated 5/2/89: <br />TO: Members of the Board <br />of County Commissioners <br />DATE: May 2, 1989 <br />SUBJECT: BUDGET AMENDMENT 062 - <br />FEDERAL REVENUE SHARING <br />CONSENT AGENDA <br />FROM: Joseph A. Bair <br />OMB Director <br />DESCRIPTION AND CONDITIONS <br />On October 1, 1988 the actual cash forward balance for our Federal <br />Revenue Sharing budget was $145,279.71, the Budget Director had <br />anticipated a balance of $234,464.00. Most of the difference of <br />$89,184.29 results from an accounting adjustment made by our auditors <br />for equipment purchased by Road and Bridge that was charged in the <br />wrong year. Although the equipment was in fact budgeted in the Road <br />and Bridge fund, the auditors did an adjustment against Federal <br />Revenue Sharing. As a result, Road and Bridge was left with a higher <br />cash balance than anticipated on October 1, 1988. <br />Since the majority of capital item expenditures budgeted in Federal <br />Revenue Sharing were meant for Road and Bridge, staff feels that the <br />remaining monies in this fund should be transferred to them. Cash <br />Forward - Revenue - October 1 would then be increased thus enabling <br />Road and Bridge to purchase all capital items budgeted in Federal <br />Revenue Sharing. <br />RECOMMEENDATION <br />Staff recommends the Board of County Commissioners authorize the <br />transfer of money to Road and Bridge fund and approve the attached <br />budget amendment to close the Federal Revenue Sharing Fund. <br />ON MOTION by Commissioner Scurlock, SECONDED by <br />Commissioner Bird, the Board unanimously (4-0, <br />authorized the transfer of money to Road S Bridge <br />fund, and approved Budget Amendment #062, as <br />recommended by OMB Director Baird. <br />5 BOOK 7 <br />Y �� <br />01 <br />