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Commissioner Hovis - Financial and Management Services - Finance - To Appropriate Accumulated Investment Earnings from April 1, 2024, through September 30, 2024 ($77,548.10) in FY25
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STAFF CONTACT
Kyle Sutherland - Finance Department - 704-866-3130
BUDGET IMPACT
budget
Appropriation of $76,383.37 for FY25 accumulated investment earnings from July 1, 2024, through September 30, 2024. Appropriation from Fund Balance of $1,164.73 for FY24 accumulated interest earnings from April 1, 2024, through June 30, 2024.
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BACKGROUND
The County has 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 $76,383.37 in investment earnings on the funds from July 1, 2024, through September 30, 2024. Interest in the amount of $1,164.73 received April 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)