Agenda Item Title:
Title
Budget Opening - Transfer Unexpended Funds
Body
Presenter: Steve Fairbanks
Description/Background:
By resolution the City Council may transfer any unencumbered or unexpended appropriation balance or portion thereof from one department in a fund to another within the same fund 10-6-125 U.C.A. While a public hearing is not required for this type of transfer, the City Council is holding one as a best practice. The transfer will move unexpended general fund money from Departments 1200 (CAO) and 1900 (Non-Departmental) to Department 1310 (Council Executive Staff), also within the general fund. The calculated amounts to transfer between departments found in the table below are an estimate and may be subject to minor modification based on a recommendation from the Finance Department prior to adoption, if the amounts to transfer are modified an updated exhibit A will be provided and attached to the resolution.
Fiscal Impact:
Department 1200 - CAO
Account
Transfer From
Transfer To
1-1200-411111 Regular Pay
$ (145,392.00)
1-1200-411211 Variable Benefits
$ (47,251.00)
1-1200-411213 Fixed Benefits
$ (24,439.00)
Department 1900 - Non Departmental
1-1900-411111 Regular Pay
$ (48,464.00)
1-1900-411211 Variable Benefits
$ (15,750.00)
1-1900-411213 Fixed Benefits
$ (8,146.00)
Department 1310 - Council Executive Staff
1-1310-419900 Contingency
$ 289,442.00
Recommended Action and/or Suggested Motion:
Recommendation
Motion to adopt the attached resolution transferring unexpended funds from one department in the general fund to another within the same fund