Title
Resolution authorizing an emergency appropriation transfer from the General Fund (Fund 101) long term capital funding to the Capital Improvement Fund (Fund 106) in the amount of $5,000,000 along with the appropriation of $5,000,000 for capital expenses in the Capital Improvement Fund.
Staff Summary
• As discussed at the Financial and Administrative Committee meeting on April 1, 2021, the approved Fiscal Year (FY) 2021 capital expenditures Capital Improvement Fund, Construction Capital Projects will be shifted from the demolition of Winchester House to the design and planning of the Sheriff’s Public Safety Facility and Consolidated 911, Emergency Operations Center (EOC), and Emergency Telephone System Board (ETSB) facility in Libertyville.
• The Financial and Administrative Committee also provided direction to emergency appropriate funding from funds set aside for long term capital projects to fully fund the demolition of Winchester House in FY 2021 in the amount of $5,000,000.
• These funds will be transferred from the General Fund as an expense (Transfer To Other Fund) and received by the Capital Improvement as a revenue (Transfer From Other Fund), both in the amount of $5,000,000.
• In addition, an emergency appropriation is necessary in the Capital Improvement Fund for the $5,000,000 that will be transferred to be used for capital expenses.
Body
RESOLUTION
WHEREAS, the Lake County Board appropriates funds in the General Fund and the Capital Improvement Fund; and
WHEREAS, the Fiscal Year (FY) 2021 Budget did not anticipate the funding of $5,000,000 in additional capital expenditures to fully fund the demolition of Winchester House and finalize the design and planning for the Sheriff’s Public Safety Facility and Consolidated 911, Emergency Operations Center (EOC), and Emergency Telephone System Board (ETSB) facility in Libertyville; and
WHEREAS, sufficient reserves are available in the General Fund reserves; and
WHEREAS, an emergency appropriation in an amount of $5,000,000 is necessary for FY 2021 to provide for these capital expenditures approved by the Finance and Administrative Committee on April 1, 2021.
NOW, THEREFORE, BE IT RESOLVED, that an emergency appropriation in the amount of $5,000,000 is hereby authorized in the FY 2021 budget in the General Fund (101-1102050-79920, Transfers to Other Funds) which will be funded from Fund 101 General Fund balance; and
BE IT FURTHER RESOLVED, that an emergency appropriation in the amount of $5,000,000 is hereby authorized in the FY 2021 budget in the Capital Improvement Fund to receive the above transfer (106-1103099-49920, Transfers From Other Funds) and for the capital expenses (106-1103015-82020, Building Improvements).
DATED at Waukegan, Illinois, on April 13, 2021.