Discussion and possible action to approve a budget amendment by increasing the budget in the expenditure account in the amount of $ 500 from revenues received from the sale of the bus for El Aguila Rural Transportation. [Requested by El Aguila Rural Transportation; Fund #2661]
From:
Revenue Acct. Number
Revenue Acc. Name
Amount
Balance
Ending Bal.
2661-259700
Fund Balance
$ 500
$50,040.83
$49,540.83
To:
Expenditure Acct. Number
Expenditure Acct. Name
Amount
Balance
Ending Bal.
2661-7110-521-443000-075
Repairs & Maint. Vehicles
$ 500
$ 28,871.03
$ 29,371.03
Issue: A budget amendment is necessary for the repairs and maintenance (expense) account to spend the proceeds from the sale of the bus.
Solution: Approve the budget amendment.
Result: Proceeds from the sale of the bus could be spent.
Background:
Proceeds from the sale of equipment (bus) need to be recorded and the proceeds must be used.