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Commissioner Hovis - Finance - To Appropriate and Transfer FY2023 Public Safety Salary Savings from the General Fund to the Community Investment Fund ($4,400,000)
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STAFF CONTACT
Kyle Sutherland, Interim Director - Finance Department - 704-866-3032
BUDGET IMPACT
budget
Appropriate $4,400,000 in the General Fund and then transfer it to the Community Investment Fund.
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BUDGET ORDINANCE IMPACT
Minimal impact to the budget ordinance.
BACKGROUND
In FY2023 there was $10 million in ARPA Standard Allowance used to offset Public Safety salaries. Original Board Action 2022-353 transferred the $10 million in ARPA Standard Allowance to the Community Investment Fund and Board Action 2023-359 reversed the transfer as the salary savings were not realized.
At the end of FY2023, $4,400,000 of salary savings, was realized, in the Public Safety Function. This Board Action transfers the $4,400,000 in FY2023 Public Safety salary savings to the Community Investment Fund to be used for future capital expenditures.
POLICY IMPACT
N/A
ATTACHMENTS
Budget Change Request (BCR); FY23 ACFR - Public Safety Section