title
Commissioner Hovis - Financial and Management Services - Finance - To Close Various Completed Capital Projects and Transfer Remaining Balances to the Community Investment Fund ($1,330,676.67)
body
STAFF CONTACT
Kyle Sutherland - Finance - 704-866-3130
BUDGET IMPACT
budget
General Government Capital Fund: Decrease expenditures by $1,302,130.68 and increase transfers out by $1,302,130.68
Capital Improvement Fund: Decrease expenditures by $28,545.99 and increase transfers out by $28,545.99
Community Investment Fund: Increase transfers in by $1,330,676.67 and decrease Fund Balance Appropriated by $1,330,676.67.
body
BACKGROUND
Several capital projects have either been completed or funds are no longer needed so the remaining balances need to be closed out and returned to the Community Investment Fund. In the General Government Capital Fund (4005) there are 16 projects with remaining balances totaling $1,302,130.68. In the Capital Improvements Fund (4095) there is one project with a balance of $28,545.99. The combined total is $1,330,676.67 and this amount will be transferred to the Community Investment Fund (4000) where it will be returned to fund balance for future capital needs.
POLICY IMPACT
N/A
ATTACHMENTS
Budget Change Request (BCR)