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Meeting Date:	01/25/2021
Tax Notes Series 2020 Carry Over Budget
Submitted for:	Carlos Guerra	Submitted By:	Carlos Guerra
Department:	Auditor

Subject:

Discussion and possible action to approve, by order, the following carry over budget for the tax notes series 2020 according to Texas Local Government Code 111.0705 - Budget for Expenditures from Proceeds of Bonds or Other Obligations; and any other matters incident thereto. [General Fund #1001 and Road & Bridge Fund #2007]

G/L Account	Account Name	Amount
1001-1130-001-470000	Capital Outlay	$1,585,921.00
2007-7150-001-470000	Capital Outlay	$322,156.57

Issue: Webb County issued tax notes series 2020 of $2.2 million for law enforcement equipment and $1.6 million for heavy machinery. Unused budget proceeds remains available for FY-2021 for open purchase orders. Tax notes funding rolls over to fund balance.

Solution: Appropriate expenditures to cover use of proceeds from tax notes series 2020.

Result: Approval of agenda Item for the continued availability of tax notes funds.

Background:

Commissioners Court 05/26/2020 order authorizing the issuance of tax notes, series 2020 for law enforcement equipment and heavy machinery.

Previous Court Action:

n/a

Fiscal Impact

Budget Account Number:	n/a
Funding Source:	tax notes series 202
Balance:	$2,361,767
Financial Impact:
n/a

Attachments
Tax notes PO's