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Commissioner Worley - Finance - To Appropriate Additional Revenue for the Fines and Forfeitures Fund ($6,000) and the Insurance Service Fund ($500,000) for FY2023
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STAFF CONTACT
Tiffany Murray - Finance - 704-866-3032
BUDGET IMPACT
budget
To budget additional revenue received over and above the FY2023 budget.
• Funds received in fund 2050 are remitted to Gaston County Schools.
o Increase revenue and expense by $6,000.
• Funds received in fund 8000 covered health, dental and life insurance expenditures for active and retired employees.
o Increase revenue and expense by $500,000.
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BUDGET ORDINANCE IMPACT
Minimal impact to the ordinance.
BACKGROUND
In FY2023 the County received higher than expected fees for fines and forfeitures which resulted in higher payments to the Gaston County Schools to whom we are required to pay the fees. This Board Action appropriates the additional $6,000 in revenues to cover the budget shortfall. Similarly, revenues in the Internal Service Funds are higher than expected. This Board Action appropriates the additional $500,000 to cover the budget shortfall.
POLICY IMPACT
N/A
ATTACHMENTS
Budget Change Request (BCR)