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Commissioner Brown - Budget & Strategy - To Transfer Budgeted Repairs and Maintenance Funds from the Capital Fund to the General Fund ($800,000 - No Additional County Funds)
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STAFF CONTACT
Taylor Ricci - Budget & Strategy - 704-866-3122
BUDGET IMPACT
budget
General Fund: Increase transfer from CIF by $800,000. Increase repairs and maintenance expenses by $800,000. No additional County funds.
Community Investment Fund (CIF): Increase transfer to General Fund by $800,000. Increase transfer from Capital Fund by $800,000. No additional County funds.
Capital Fund: Decrease repairs and maintenance expenses by $800,000. Increase transfer to CIF by $800,000. No additional County funds.
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BUDGET ORDINANCE IMPACT
General Fund: Increase transfer from CIF by $800,000. Increase repairs and maintenance expenses by $800,000. No additional County funds.
Community Investment Fund (CIF): Increase transfer to General Fund by $800,000. Increase transfer from Capital Fund by $800,000. No additional County funds.
Capital Fund: Decrease repairs and maintenance expenses by $800,000. Increase transfer to CIF by $800,000. No additional County funds.
BACKGROUND
As part of the implementation of a new account structure in FY24, 50% of funds allocated for Facilities Management to use for building repairs and maintenance was budgeted in the capital fund. The other 50% was budgeted in Facilities Management's operating budget in the general fund. Due to the types of repairs and maintenance needed, $800k of the funds budgeted in the capital fund need to be shifted to operating, in the general fund. This Board Action and Budget Change Request transfers the funds needed (no additional County funds).
POLICY IMPACT
N/A
ATTACHMENTS
Budget Change Request (BCR)