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Commissioner Hovis - Financial and Management Services - Finance - To Appropriate Accumulated Investment Earnings from January 1, 2025, through March 31, 2025 ($70,970.58) in FY25. Appropriate Reconciled Accumulated Investment Earnings from July 1, 2023, through June 30, 2024 ($7,978.40) in FY25. Total Appropriation is $78,948.98
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STAFF CONTACT
Kyle Sutherland - Finance - 704-866-3130
BUDGET IMPACT
budget
Appropriation of $70,970.58 for FY25 accumulated investment earnings from January 1, 2025, through March 31, 2025. Appropriation of $7,978.40 for FY24 reconciled accumulated investment earnings from July 1, 2023, through June 30, 2024.
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BACKGROUND
The County has received federal drug forfeitures, controlled substance abuse tax funds, ROAP funds, and NC OSBM funds. All funds have earned interest which must be spent in the same manner as the proceeds. This Board Action appropriates $70,970.58 in investment earnings on the funds from January 1, 2025, through March 31, 2025, and $7,978.40 in investment earnings on the funds from July 1, 2023, through June 30, 2024. The total appropriation is $78,948.98.
POLICY IMPACT
N/A
ATTACHMENTS
Budget Change Request (BCR)