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Commissioner Brown - Budget & Strategy - To Transfer Budgeted Funds for Wrecked Vehicle Replacements from the General Fund to the Capital Fund via the CIF (No Additional County Funds)
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STAFF CONTACT
Taylor Ricci - Budget - 704-866-3122
BUDGET IMPACT
budget
General Fund: Decrease expenditures by $285,000. Increase expenditures (transfers out) by $285,000.
CIF: Increase revenue (transfers in) by $285,000. Increase expenditures (transfers out) by $285,000.
Capital Fund: Increase revenue (transfers in) by $285,000. Increase capital expenditures by $285,000.
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BACKGROUND
This Board Action and BCR transfer $285,000 in budgeted funds from the General Fund to the Capital Fund via the CIF. No additional County funds. Funds for wrecked vehicle repairs and replacements were budgeted in the General Fund. For total loss replacements, vehicles are now purchased out of the Capital Fund. $125,965 will replenish the vehicle contingency account in the Capital Fund (used due to immediate need when vehicles were delivered or available at the beginning of FY25) and the remaining $159,035 will go directly to the account to be used for total loss replacements during the remainder of FY25. The total transfer is based on the FY24 actual total estimate of $285,000. In FY26 and future years, funds will be budgeted in the Capital Fund.
POLICY IMPACT
N/A
ATTACHMENTS
Budget Change Request (BCR)