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Commissioner Hovis - Finance - To Appropriate Additional Revenue and Appropriate Fund Balance for Special Revenue Funds and the Self-Insurance Fund for FY2023
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STAFF CONTACT
Tiffany Murray - Finance - 704-866-3032
BUDGET IMPACT
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1. To budget additional revenue received over and above the FY2023 budget. Funds received in the fund 2050 are remitted to Gaston County Schools. 2. To appropriate fund balance to cover payee disbursements over and above the budget including payouts for clients no longer in DSS custody and transfers to Social Security Administration for deceased clients. 3. To budget additional revenues and to appropriate fund balance for projected health insurance fund expenditures.
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BUDGET ORDINANCE IMPACT
Minimal impact to budget 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 $468,000 in revenues to cover the budget shortfall.
In FY2023 the County paid out higher than expected expenditures for Representative Payees due to clients transferring from DSS custody and transfers to the Social Security Administration for deceased clients. This Board Action appropriates $100,000 of fund balance to cover the budget shortfall.
In FY2023 the County incurred higher than expected claims in the Self Insurance Fund. This amendment is to appropriate additional $1,557,270 in revenue ($743,000 in claims revenue received in excess of the budget in FY23 and $814,270 in fund balance) to cover unexpected increases in insurance claims for fiscal year 2022- 2023.
POLICY IMPACT
N/A
ATTACHMENTS
Budget Change Request (BCR)