Commissioners Court Special Meeting

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12.

Meeting Date:	12/21/2017
Adoption of Special Budget - Auction proceeds
Submitted for:	Aliza Oliveros	Submitted By:	Aliza Oliveros
Department:	Head Start

Information

Subject:

Discussion and possible action to adopt a special budget in the amount of $4,185.00 (Head Start 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 Head Start program. [Revenue Account #2357-1150-357420 – Expenditure Account #2357-1150-531-431002]

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 Head Start program expenditures.

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 Head Start revenue is being requested to be adopted for the intended purpose of program expenditures for an overall total of $4,185.00 as needed in accordance with State law and grant regulations.

Previous Court Action:

None.

Fiscal Impact

Budget Account Number:	2357-1150-531-431002
Funding Source:	Administrative Exp.
Balance:	$4,185.00
Financial Impact:
2357-1150-531-431002 $4,185.00 Total amount to adopt under Section 111.07075 (Special Budget) - $4,185.00