Commissioners Court Meeting
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Meeting Date:
10/13/2020
Submitted for:
Carlos Guerra
Prepared by:
Carlos Guerra
Department:
Auditor
Subject:
Discussion and possible action to approve, by Order, the following budget amendment (line item transfer) to transfer funds between the Land & Building Fund, Series 2013, and Debt Service Fund.
[Funds 3175 and 4100]
Acct. Number
Acct. Name
Adopted
Request
Current
End Bal.
From:
3175-7220-001-470000-100
Capital Outlay - Land Acquisition
$2,000,000
$2,000,000
$2,000,000
$0
To:
4100-9080-391000
Transfers In
$1,475,911
$2,000,000
$1,475,911
$3,475,911
Issue:
Budget line item transfer is needed to transfer funds available in Series 2013 to Debt Service in order to cover cash contribution needed for Limited Tax Refunding, Series 2020.
Solution:
With Court approval of budget line item transfer, transfer of funds will be covered for Debt Service payments.
Result:
There will be sufficient funds to cover cash contribution payment for Limited Tax Refunding, Series 2020.
Fiscal Impact
Budget Account Number:
3175
Funding Source:
Series 2013
Balance:
$2,000,000
Financial Impact:
n/a
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