In the matter of Adoption of a Supplemental Budget within the General Fund, Public Works Federal Road Reserve fund, and Economic Development fund. Vickie Noel - Finance
The County received higher revenues and lower expenses in FY’s 2017, 2018, and 2019 than anticipated requiring a change in the Beginning Fund balance for FY 2019-20. The expenditures in the General fund Sheriff’s Office for fiscal year 2018-19 were underspent leaving a balance of $776,539.69 the Board of Commissioners voted on October 29th 2019 to return to the Public Works Federal Reserve Fund. The change in fund balance will also allow the 2019-20 transfer from Public Works to the Sheriff Patrol Division to be eliminated and allow Economic Development project funding.
$5,500,000 increase in revenues and expenditures in the General Fund Non-departmental, $776,540.00 increase in revenue transfers to the Public Works Federal Reserve Fund and $1,833,000 decrease in transfers out, and a $2,000,000 increase in Economic Development revenues and expenditures.
Approve the supplemental budget for fiscal year 2019-20 as outlined in the attached document for changes to the General Fund non-departmental, Public Works Federal Reserve Fund, and Economic Development Funds. There is a $5,500,000 increase in revenues and expenditures in the General Fund Non-departmental, $2,609,540 decrease in transfers out of the Public Works Federal Reserve, and a $2,000,000 increase in Economic Development revenues and expenditures.