Commissioners Court Meeting
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Meeting Date:
11/09/2020
Submitted for:
Melinda Mata
Prepared by:
Melinda Mata
Department:
County Judge
Subject:
Discussion and possible action to approve, by Order, the following budget amendment (line item transfers) to transfer funds between General Fund and Golf Course Fund to fund new lease payments.
[Funds #1001 and #7100]
Acct. Number
Acct. Name
Adopted
Request
Current
End Bal.
From:
1001-1130-001-441205
Utilities
$57,570
7100-9050-001-483003-280
Capital Lease - PNC
Financial - Textron
$15,260
$9,926
$15,260
$5,334
7100-9050-001-483037-280
Lease Interest - PNC
Financial - Textron
$3,288
$2,055
$3,288
$1,233
$69,551
To:
7100-9050-001-483003-290
Capital Lease -
Wells Fargo/000
$0
$41,425
$0
$41,425
7100-9050-001-483037-290
Lese Interest -
Wells-Fargo/000
$0
$9,576
$0
$9,576
7100-9050-001-483003-295
Capital Lease -
Wells-Fargo/002
$0
$15,543
$0
$15,543
7100-9050-001-483037-295
Lease Interest-
Wells-Fargo/002
$0
$3,007
$0
$3,007
$69,551
Issue:
Budget Line item transfer is needed to transfer funds out from General Fund to Golf Course in order to cover three new annual lease payments for the inclusion to the FY-2021 budget. Total debt for three new leases is $383,253 for 48 months plus interest.
Solution:
Requires Commissioners Court approval for budget amendment; transfer of funds will be available in Golf Course to cover for annual lease payments as authorized by Commissioners Court.
Result:
There will be sufficient funds to process new lease payments for Golf Course timely.
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