title
Commissioner Brown – To Approve the Transfer of Accumulated Funds Realized from Past Tax Collections, Revaluation, Interest Earned, Etc. to New Hope Fire Department ($57,206)
body
STAFF CONTACT
Eric Hendrix, Fire Marshal - (704) 866-3231
BUDGET IMPACT
budget
These transfers are keeping within current policy to transfer accumulated funds.
body
BUDGET ORDINANCE IMPACT
Transferring accumulated funds from Fund Balance Appropriated Account to New Hope Subsidies Account
BACKGROUND
On occasion funds accumulate in fire district taxing accounts through the realization of past taxes being collected, property revaluation between budgets and account interest earned. This action will transfer such accumulated funds to New Hope Fire Department, so that they may purchase/replace hydraulic rescue tools. At the Nov. 30, 2015 Fire Advisory Board Meeting, Chief Matt Young submitted a spending plan and New Hope’s request for approval to ask the Commissioners to release $57,206 of their reserve funds to them. The spending plan reflects their need/intention to purchase a full complement of battery powered tools and a full complement of hydraulic tools. Their current tools set has become obsolete and unserviceable and the manufacturer is no longer in operation. Matt Kanupp made a motion to recommend to the Commissioners that they release $57,206 reserve funds to New Hope. Jeff Hovis seconded the motion. There was no further discussion or opposition. The motion carried.
POLICY IMPACT
N/A