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Commissioner Grant - Fire Marshal - To Approve the Transfer of Accumulated Funds Realized from Past Tax Collections, Revaluation, Interest Earned, Etc. to South Point Volunteer Fire Dept., Inc. ($57,500)
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STAFF CONTACT
Eric Hendrix - Fire Marshal - 704-866-3231
BUDGET IMPACT
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These transfers are keeping within current policy to transfer accumulated funds
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BUDGET ORDINANCE IMPACT
Transferring accumulated funds from Fund Balance Appropriated Account to South Point Volunteer Fire Department, Inc.
BACKGROUND
On occasion funds accumulate in fire district taxing accounts through the realization of past taxes being collected, property revaluation between budgets and account interest earned. This action will transfer such accumulated funds to South Point Volunteer Fire Department, Inc. Chief Barry Joye presented a spending plan (attached), to the Fire Advisory Board on March 21, 2018, and South Point’s request for approval to ask the Commissioners to release $57,500 of their reserve funds to them. South Point will use the reserve funds to purchase 2.38 adjoining acres of land to be used for training, future tower use expansion and parking (50,000). And $7,500 to cover the costs of attorney fees, survey, appraisal and miscellaneous charges associated with the land purchase. Ted Hendrix made a motion to recommend to the Commissioners that they release $57,500 reserve funds to South Point. Matt Kanupp seconded the motion. There was no further discussion or opposition. The vote was unanimous. The motion carried.
POLICY IMPACT
N/A
ATTACHMENTS
Budget Change Request; South Point VFD’s Overage Funds Letter