Discussion and possible action to amend the Contingency Reserve Fund line item expenditure for FY 2018 based on the current available balance in FY 2017 subject to yearend payable and reallocated projects during the FY 2018 budget.
Acct. Number
Acct. Name
Amount
Bal.
End Bal.
From:
3015-259700
Fund Balance
$156,918
$853,078
$696,160
To:
3015-7050-001-470000-075
Contingency Reserve
$156,918
$2,500
$159,418
Issue: Capital project budgets require to have the correct available balances for expenditures and encumbrances to FY 2018.
Solution: Capital project budgets will have the appropriate funding to perform their intended purpose.
Result: The amendments to the capital project budget will allow to have the correct available balance.