Title
General Services Department recommending Budget Transfer increasing appropriations and revenues by $30,000 for the purchase and sale of aircraft fuel. (4/5 vote required)
RECOMMENDED ACTION: Approve.
FUNDING: Airport Enterprise Fund.
Body
BUDGET SUMMARY: |
|
|
Total Estimated Cost |
|
$107,500 |
|
|
|
|
|
|
Funding |
|
|
Budgeted |
$77,500 |
|
New Funding |
$30,000 |
|
Savings |
$ |
|
Other |
$ |
|
Total Funding Available |
$107,500 |
|
Change To Net County Cost |
|
$0 |
Fiscal Impact/Change to Net County Cost: None
Cost recovered through sales of fuel to airport customers.
Background: Georgetown Airport purchases fuel from a vendor and then sells the fuel to aviation customers.
Reason for Recommendation: Sharp increase in fuel prices have exhausted the budget. The Airport Manager estimates an additional 6,000 gallons of fuel will need to be purchased in the remaining fiscal year. The Airport would like to increase budget in revenues and appropriations to cover the purchase of fuel and the income from fuel sales through the remainder of the fiscal year.
Action to be taken following Board approval: Upon approval by Board, budget transfer for $30,000 to be forwarded to the Auditor's Office for processing.
Contact: Todd Hall