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.