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Commissioner Brown - Budget & Strategy - To Appropriate Fund Balance for FY24 New and Replacement Vehicles ($63,000 General Fund and $252,000 CIF, up to $88,500 to be Reimbursed with Debt) and IT SAN Replacement ($944,093 CIF to be Reimbursed with Debt) and Approve the Reimbursement Declaration
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STAFF CONTACT
Taylor Drury - Budget & Strategy - 704-866-3122
BUDGET IMPACT
budget
Increase General Fund revenue (fund balance appropriation) by $63,000. Increase General Fund expenditures by $63,000. Increase Community Investment Fund (CIF) revenue (fund balance appropriation) by $1,196,093. Increase CIF expenditures (transfer out) by $1,196,093. Increase Capital Fund revenue (transfer in from CIF) by $1,196,093. Increase expenditures by $1,196,093. Up to $1,032,593 of these expenditures are to be reimbursed with a financing package to be issued later in the fiscal year.
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BUDGET ORDINANCE IMPACT
Increase General Fund revenue (fund balance appropriation) by $63,000. Increase General Fund expenditures by $63,000. Increase Community Investment Fund (CIF) revenue (fund balance appropriation) by $1,196,093. Increase CIF expenditures (transfer out) by $1,196,093. Increase Capital Fund revenue (transfer in from CIF) by $1,196,093. Increase expenditures by $1,196,093. Up to $1,032,593 of these expenditures are to be reimbursed with a financing package to be issued later in the fiscal year.
BACKGROUND
This Board Action and BCR appropriate fund balance for unanticipated escalations in the cost of FY24 new and replacement vehicles, as well as funds for the replacement of the County IT's SAN system. The vehicle purchases were previously approved in BA 2023-088 and during the budget process. The replacement of the County's SAN system was approved during the CIP process. The total General Fund appropriation is $63,000, and the total CIF appropriation is $1,196,093. The County will be reimbursed by a financing package for up to $1,032,593 of the costs.
Due to the u...
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