Discussion and possible action to approve, by Order, the following budget amendment (line item transfer) within Interest Income fund:
Acct. Number
Acct. Name
Adopted
Request
Current
End Bal.
From:
3874-259700
Interest Income, Series 2019A
$0
$26,495
$55,931
$29,436
To:
3868-7230-001-443000-255
Elevator Repairs, Series 2019A
$192,019
$26,495
$192,019
$218,514
Issue: Budget line item transfer is needed to cover budget transfer out made on April 14, 2020 (item #22), used to cover La Presa project budget shortfall.
Solution: Interest income, Series 2019A, is being used to recoup budget transferred out.
Result: There will be sufficient funds to fund elevator repairs projects.