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Commissioner Grant - Fire Marshal - To Approve the Transfer of Accumulated Funds Realized from Past Tax Collections, Revaluation, Interest Earned, Etc. to Alexis Fire Department ($51,793)
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STAFF CONTACT
Eric Hendrix - Fire Marshal - 704-866-3231
BUDGET IMPACT
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These transfers are keeping within current policy to transfer accumulated funds
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BUDGET ORDINANCE IMPACT
Transferring accumulated funds from Fund Balance Appropriated Account to Alexis Fire Department 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 Alexis Fire Department. At the March 29, 2017 Fire Advisory Board Meeting, Chief Brad Presswood submitted a spending plan and Alexis’s request for approval to ask the Commissioners to release $51,793 of their reserve funds to them. Alexis will place this amount in a principle only payment of the current two apparatuses that are under a lease-purchase agreement. This will allow early payoff of both apparatuses in 2018-2019. David Toomey made a motion to recommend to the Commissioners that they release $51,793 reserve funds to Alexis. Jeff Hovis seconded the motion. There was no further discussion or opposition. The vote was unanimous. The motion carried.
POLICY IMPACT
N/A
ATTACHMENTS
Budget Change Request and Alexis Fire Department’s Spending Plan for Reserve Funds