Title
Resolution authorizing an emergency appropriation from fund balance in the Special Service Area #17 - Ivanhoe Estates Fund in the amount of $5,412 modifying the Fiscal Year (FY) 2024 budget for expenses incurred which were not included in the FY 2024 budget.
Staff Summary
• In 2016, the County Board established Special Service Area #17 - Ivanhoe Estates Fund to fund the repair, reconstruction, and maintenance of private streets within the Ivanhoe Estates residential community.
• Each year’s budget for Special Service Area #17 - Ivanhoe Estates Fund is prepared with a levy and expenses determined by the Homeowners’ Association.
• This resolution appropriates $5,412 from fund balance in the Special Service Area #17 - Ivanhoe Estates Fund to expenses in the FY 2024 Budget.
Body
RESOLUTION
WHEREAS, each year’s budget for Special Service Area #17 - Ivanhoe Estates Fund is prepared with a levy and expenses determined by the Homeowners’ Association.
WHEREAS, due to a shortage in the amount budgeted for Fiscal Year (FY) 2024, insufficient funds are available to close out all allowed and approved expenses by the Homeowners’ Association; and
WHEREAS, with this action, it will be possible to post all expenses for FY 2024.
NOW, THEREFORE, BE IT RESOLVED, by this County Board of Lake County, Illinois, that an emergency appropriation from fund balance from the Special Service Area #17 - Ivanhoe Estates Fund the amount of $5,412 from this fund is hereby authorized.
DATED at Waukegan, Illinois, on November 12, 2024.