Laserfiche WebLink
Dear Chairman Ginn: <br />This letter is a request to amend my fiscal year 2001-2002 Operatin; Budget and approve early <br />retirement of my lease purchase debt. <br />Early retirement of the outstanding lease purchase debt on my records management system <br />would result in the savings of $5,005.00 in interest costs. <br />The cost to retire the outstanding debt is $165,366.00. The amount budgeted for FY 2002 lease <br />payments is $90,098.00, leaving an amount of $75,268.00 needed to retire the debt early. <br />The amount required to be budgeted for lease payments in FY2003 is 581,481.62. <br />I am in the process of sending the board $2,886.00 of unused lease escrow funds, 516,639.00 <br />interest earned on the lease escrow account, and $75,000.00 resulting from a lawsuit settlement <br />with the previous records management system vendor (LOGISYS). <br />I request the board amend my FY2002 budget by the amount of the LOGISYS lawsuit settlement <br />($75,000) in order to realize the $5,005.00 interest savings through early retirement of the lease <br />purchase debt. <br />Please place this item on the Consent Agenda at your earliest convenience. If you have a <br />question or need additional information, please let me know. <br />Sincerely, <br />Roy Raymond <br />RR: heh <br />Attachment <br />The 173rd Internationally Accredited Law Enforcement Agency <br />Accredited by the Commission on Accreditation for Law Enforcement Agencies, Incorporated <br />ON MOTION by Commissioner Adams, SECONDED BY Vice <br />Chairman Stanbridge, the Board unanimously amended the Sheriff's <br />FY 2001-02 Budget in the amount of $75,000 (the LOGISYS lawsuit <br />settlement) in order to realize an interest savings of $5,005 through <br />early retirement of the lease purchase debt, as requested. <br />November 13, 2001 <br />11 <br />