Discussion and possible action to approve, by order, a budget line item transfer in the amount of $75,000 for actual revenues over budget for Election Service Contracts (Fund #2010); and any other matters incident thereto. [Account #2010-1110-341100-005 Election Contractual Fees City of Laredo $37,500.00, Account #2010-1110-341100-010 Election Contractual Fees Laredo College $37,500.00, Account #2010-1110-001-451201 Election Expense $75,000.00]
Issue: Bank Reconciliations are pending since April 2023. General ledger records show a cash fund deficit of $75,000.
Solution: Budget amendment is needed to complete bank reconciliations and eliminate cash fund deficit through September 30, 2023.
Result: Elections Office bank account will be reconciled and cash fund deficit eliminated.