Title
Resolution authorizing line item transfers between various funds for the purpose of transferring previously approved funds in fiscal year (FY) 2014.
Staff Summary
· Line item transfers in various funds between line items in the FY2014 budget are needed to align the budget with correct expense accounts.
· The extreme winter of 2013-2014 resulted in abnormally high usage of automotive parts in the Division of Transportation (DOT), resulting in the need for a transfer of funds to cover these expenses from DOT's other account classes and from the County's General Operating Expense Contingency, specifically funded for these unexpected situations.
· The total amount of the line item transfer is $142,763.
· The County Board must approve line item transfers under certain conditions.
Body
RESOLUTION
WHEREAS, in the administration and implementation of the approved budget, there is occasionally a need to transfer budget authority; and
WHEREAS, these actions are commonly known as 'line item transfers', and must be approved by the County Board under certain circumstances; and
WHEREAS, a listing of line item transfers of budget has been prepared by the County Administrator's Office, a copy of which is attached hereto and made part hereof, and the Public Works & Transportations and Financial & Administrative Committees recommend approval of these actions by the County Board.
NOW, THEREFORE, BE IT RESOLVED, by this County Board of Lake County, Illinois, that line item transfers in the fiscal year (FY) 2014 budget, as set forth in the attached listing, are hereby approved.
DATED at Waukegan, Illinois, on March 10, 2015.