Commissioners Court Meeting
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Meeting Date:
02/13/2017
Submitted for:
Joe Lopez
Prepared by:
Joe Lopez
Department:
Purchasing
Subject:
Discussion and possible action to approve the following line item transfer:
Acct. Number
Acct. Name
Amount
Bal.
End Bal.
From:
010-7002-5001
Payroll Costs
$40,570
$1,739,239
$1,698,669
To:
010-7002-8801
Capital Outlay
$40,570
$359,763
$400,333
Issue:
Funding needed to cover debt service expense for grader and backhoes on lease agreement with CAT Financial for FY 2017.
Solution:
Transfer salary savings from payroll costs to capital outlay. This will allow for the transfer out to Debt Service.
Result:
Cover funding needed to submit requisitions and issuance of Purchase Order for heavy equipment previously approved by Commissioners Court during the month of January of 2017.
Fiscal Impact
Budget Account Number:
010-7002-8801
Funding Source:
Capital Outlay
Balance:
$40,570.00
Financial Impact:
Funds transferred from salary savings will be moved to capital outlay account within road and bridge fund. a transfer out will be done via a JE to Debt service Fund/accounts (600).
principal and interest total $40,570.00 for FY 2017 only.
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