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Commissioner Worley - Finance - To Transfer CDBG Program Income Funds from the General Government Capital Fund to the General Fund ($19,239.85)
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STAFF CONTACT
Tiffany Murray - Finance Department - 704-866-3032
BUDGET IMPACT
budget
Decrease expenses in the General Government Capital Fund by $19,239.85 and transfer those funds to the General Fund.
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BUDGET ORDINANCE IMPACT
Minimal impact to the budget ordinance.
BACKGROUND
With the chart of accounts restructure, housing rehabilitation was moved to the General Fund as a division of the Building and Development Services department. Those expenses are not related to County owned property and should not be included in with the County owned capital projects as has been done historically. The County has received program income funds from prior CDBG grant projects over the years which were appropriated into an expense account to be used for expenses related to housing rehabilitation and as matching funds for housing rehab grants. The current balance of those funds is $19,239.85.
This Board Action transfers the current balance of $19,239.85 from the General Government Capital Fund to the General Fund where all other housing rehabilitation expenses are now maintained.
POLICY IMPACT
N/A
ATTACHMENTS
Budget Change Request (BCR)