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Commissioner Worley - Finance - To (1) Establish a Budget for the Representative Payee and Civil Process Funds for FY2022, (2) Appropriate Fire District Fund Balance to Budget Overage in FY2022, (3) Appropriate Additional FY2022 Fines and Forfeiture Revenues ($1,383,720), (4) Appropriate Tourism Fund Balance to Cover Shortage in FY2022, (5) Provide the Finance Officer the Authority to Establish a Special Revenue Fund Designated for Opioid Settlement Funds ($1,437,728)
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STAFF CONTACT
Tiffany Murray - Finance Department - 704-866-3032
BUDGET IMPACT
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(1) Increase revenues and expenses in the Representative Payee ($674,272) and Civil Process ($246,599) funds both of which are Special Revenue funds. Transfers $246,599 to the General Fund as reimbursement for the salary and benefits of Sheriff Office employees that are partially or fully funded by the Sheriff's portion of civil process fees.
(2) Increase revenues and expenses in the Fire District Fund by $65 to cover FY2021 payment posted in FY2022.
(3) Increase revenues and expenses by $462,784 in the Fines and Forfeitures Fund to cover shortages in FY2022.
(4) Increase revenues and expenses in the Tourism Fund by $54,008 to cover shortages in various accounts FY2022.
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BUDGET ORDINANCE IMPACT
Establishes a budget for the Representative Payee and Civil Process funds that were not included in the adopted budget.
Establishes a new special revenue fund for the purpose of housing proceeds and expenditures received from the opioid litigation settlement.
BACKGROUND
GASB Statement 84 required the establishment of the Representative Payee Fund and Civil Process Fund beginning with FY2021. Being new funds, they were inadvertently not included in the FY2022 adopted budget. This Board Action establishes a budget for both funds with the attached Budget Change Request. These amounts listed are based on actuals for FY2022. This Board Action also transfers funds to the General Fund as reimbursement for th...
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