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Commissioner Hovis - Financial and Management Services - Finance - Administrative Correction - To Correct the Budget Change Request for Resolution 2026-072 Adopted at the 2/26/2026 BOC Meeting in FY2026
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STAFF CONTACT
Kyle Sutherland - Finance - 704-866-3130
BUDGET IMPACT
budget
Community Investment Fund: Increase transfers in by $113,234.00. Increase transfers out by $113,234.00.
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BACKGROUND
The American Rescue Plan (ARP) Act of 2021 created new Coronavirus State and Local Fiscal Recovery Funds. The Act sets aside $65.1 billion to be allocated to counties based on population and sent directly from the Department of Treasury. Gaston County is expected to receive $43,612,126 over two years. Pursuant to Section 13.2 of Chapter 159 of the General Statutes of North Carolina, the Gaston County Grant Project Ordinance 2021-264 for the Gaston County Coronavirus State and Local Fiscal Recovery Funds was adopted in Regular Session by the Gaston County Board of Commissioners on September 28, 2021.
This administrative correction is necessary to correct the transfer lines for the Community Investment Fund, which were originally entered in reverse. The original transfer lines will be reversed, and two additional lines will be entered to correctly record the transfers into and out of the Fund. This correction does not change the total amount of funding; it only corrects the accounting treatment of the transfers.
POLICY IMPACT
N/A
ATTACHMENTS
Budget Change Request (BCR)