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Commissioner Worley - Finance - To Appropriate Accumulated Investment Earnings from April 1, 2024 through May 31, 2024 ($55,293.42)
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STAFF CONTACT
Kyle Sutherland - Interim Finance Director - 704-866-3032
BUDGET IMPACT
budget
Appropriation of $55,293.42 for accumulated investment earnings from April 1, 2024 through May 31, 2024.
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BUDGET ORDINANCE IMPACT
Increase interest revenue by $55,293.42 and appropriate into respective funds as indicated on the attached Budget Change Request.
BACKGROUND
Gaston County issued GO School Bonds on 5/24/16 and 11/15/18. The County has also received federal drug forfeitures, controlled substance abuse tax funds, ROAP funds, NC OSBM funds, Human Trafficking funds and Urgent Repair Program funds. All funds have earned interest which must be spent in the same manner as the proceeds. This Board Action appropriates the $55,293.42 in investment earnings on these funds from April 1, 2024 through May 31, 2024.
POLICY IMPACT
N/A
ATTACHMENTS
Budget Change Request (BCR)