Special Notice / Hearing: None__
Vote Required: Majority
To: Honorable Board of Supervisors
From: Michael P. Callagy, County Manager
Subject: Countywide FY 2018-19 Year-End Appropriation Transfer Request (ATR) in the amount of $7,130,719 from various budget units
RECOMMENDATION:
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Approve Appropriation Transfer Requests transferring $7,130,719 from various budget units: Revenues - $4,047,506; Fund Balance - $2,630,869; Other Charges - $45,299; Fixed Assets - $10,000; and Contingencies and Reserves - $397,045 to the following: Fund Balance - $500,000; Salaries and Benefits - $219,299; Services and Supplies - $1,603,014; Other Charges - $4,644,869; and Fixed Assets - $153,537.
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BACKGROUND:
To close the County's financial records at the end of each fiscal year, a countywide ATR is submitted to ensure that expenditures are covered by sufficient appropriations and that expenditures are represented correctly in each of the County's funds. The amount of the ATR is $7,130,719 and includes adjustments totaling $2,630,869 that were made for accounting purposes only.
All other adjustments, totaling $4,499,850, are funded from savings, reserves, or unanticipated revenues generated by the various budget units with no increase in Net County Cost.
DISCUSSION:
This year-end ATR does the following:
1. Parks Coyote Point Marina (3980B) - Transfers $313,703 in Fund Balance from Coyote Point Marina Operating Fund to Coyote Point Marina for FY 2018-19 depreciation expense. The recording of depreciation is for accounting purposes only and is a non-cash transaction. (ATR 19-056A)
2. Public Works Capital Projects (8500B) - Transfers $500,000 in revenues and expenditures from Other County Projects org to Parks and Marina Projects org for accounting purposes only, to properly account for reimbursement from Non-Departmental Services for the Crystal Springs Fencing Project. All other Parks Department projects in the Capital Projects budget...
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