Title
Joint resolution authorizing an emergency appropriation in the amount of $15,403 in the Tax Sale Automation fund expense budget.
Staff Summary
· The Treasurer's 2010 and 2011 annual tax sales both occurred within one fiscal year, and as a result additional funds are required.
· The amount needed is $15,403, which is available in the Tax Sale Automation fund balance.
· The total amount of $15,403 shall be appropriated to the following Tax Sale Automation fund expense account: 266-2010010-79940-000-000-000-00000.
Body
WHEREAS, the Treasurer's 2010 and 2011 annual tax sales both occurred within one fiscal year, and as a result additional funds are required; and
WHEREAS, the amount budgeted for the tax sale in FY2010 is not sufficient to cover the costs of both sales, and an additional $15,403 is needed to cover the cost of the second sale; and
WHEREAS, the Tax Sale Automation fund has a fund balance of $513,952 as of December 1, 2009 and is projected to end the fiscal year with a fund balance of $582,435 which is sufficient to cover the cost of the second sale.
NOW, THEREFORE, BE IT RESOLVED, by this County Board of Lake County, Illinois, that the following emergency appropriation of $15,403 shall be made to the following expense account in the Tax Sale Automation fund: 256-2010010-79940-000-000-000-00000.
DATED, at Waukegan, Lake County, Illinois, on January 11, 2011.