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Meeting Date:	11/13/2017
Adoption of Special Budget - Auction proceeds
Submitted for:	Joe Lopez	Submitted By:	Joe Lopez
Department:	Purchasing

Subject:

Discussion and possible action to adopt a special budget in the amount of $119,920.00 (General Fund / Road & Bridge only) for auction sale revenue received on September 30, 2017 and not included in the adopted budget for FY 2017-2018 in accordance with the Texas State Local Government Code, Sub-Chapter C; Section 111.07075 (Special Budget for Revenue Received After Start of Fiscal Year) for the purpose of using proceeds towards the Webb County vehicle leasing program. [Account #1001-1130-001-469001-005 - Operating lease principal; Road & Bridge Account; #2007-7040-001-4690001-005]

Issue: Auction proceeds were incurred on 9/30/2017, these revenues were not anticipated before the adoption of the FY2018 Budget.

Solution: Appropriate a portion of the proceeds to be used for the purpose of funding the vehicle leasing program for Webb County.

Result: Finalize special budget using auction proceeds incurred on 9/30/2017 for the intended purpose stated on this agenda item.

Background:

On 9/30/2017 a public auction was held and 64 County units were sold for a total of $143,600.00. After auction fee was reduced the County deposited total proceeds of $129,240.00. Only General fund and Road/Bridge revenue is being requested to be adopted for the intended purpose of leasing vehicles for an overall total of $119,920.00 as needed in accordance with State law.

Previous Court Action:

None

Fiscal Impact

Budget Account Number:	1001-1130, 2007-7040
Funding Source:	Operating lease
Balance:	$119,920.00
Financial Impact:
1001-1130-001-469001-05 $41,980.00 2007-7040-001-469001-05 $77,940.00 Total amount to adopt under Section 111.07075 (Special Budget) - $119,920.00