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Commissioner Worley - Finance - To Appropriate Accumulated Investment Earnings from June 1, 2024 through June 30, 2024 ($24,931.76)
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STAFF CONTACT
Kyle Sutherland, Interim Finance Director - Finance - 704-866-3032
BUDGET IMPACT
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Appropriation of $24,931.76 for accumulated investment earnings from June 1, 2024, through June 30, 2024.
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BUDGET ORDINANCE IMPACT
Fund Balance Appropriated for $24,931.76 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, and NC OSBM funds. All funds have earned interest which must be spent in the same manner as the proceeds. This board action appropriates the $24,931.76 in investment earnings on these funds from June 1, 2024 through June 30, 2024. Interest in the amount of $24,931.76 received June 1, 2024 through June 30, 2024 to be appropriated from fund balance of the various funds receiving interest, due to interest being earned in prior fiscal year.
POLICY IMPACT
N/A
ATTACHMENTS
Budget Change Request (BCR)