Title
Department of Transportation recommending the Board approve and authorize the Chair to sign a budget transfer adjusting the budget for Fiscal Year 2019/20 to allow for the transfer of prior year revenues in the Road District Tax account to the Road Fund. (4/5 vote required)
FUNDING: Road District Tax Revenues.
Body
DISCUSSION / BACKGROUND
Department of Transportation
Road District Tax (RDT) revenue is initially deposited into a fund separate from the Road Fund. Annually, all funds collected in the RDT fund are transferred to the Road fund for operations and maintenance. Revenues for Road District Tax received in FY 2018/19 were higher than budgeted. Due to timing issues at fiscal year-end, a budget transfer was not able to be processed to allow these funds to be transferred in FY 2018/19. This budget transfer will allow the prior year fund balance to be transferred to the Road Fund.
Budgeted appropriations for Road District Tax need to be increased in Operating Transfers Out by $383,956, offset by a decrease to Appropriation for Contingency in the amount of $383,956.
Budgeted appropriations for Transportation - General Department need to be increased in Operating Transfers In: RDT by $383,956, offset by an increase to Appropriation for Contingency in the amount of $383,956.
ALTERNATIVES
The Board may elect not to approve the budget transfer as proposed, although proper accounting for the Road Fund would be jeopardized.
OTHER DEPARTMENT / AGENCY INVOLVEMENT
N/A
CAO RECOMMENDATION
It is recommended that the Board approve this item.
FINANCIAL IMPACT
There is no financial impact or change to Net County Cost associated with this item.
CLERK OF THE BOARD FOLLOW UP ACTIONS
1) The Clerk of the Board will obtain the Chair’s signature on the original budget transfer and will forward the budget transfer to the Auditor/Controller for processing.
STRATEGIC PLAN COMPONENT
Good Governance
CONTACT
Rafael Martinez, Director
Department of Transportation