Title
Facilities, a division of the Chief Administrative Office, recommending the Board authorize the Chair to sign a budget transfer decreasing operating transfers in and building improvements by $15,352,580 in the Accumulative Capital Outlay Fund and increase the General Fund designations for Capital Projects and decrease operating transfers out of Department 15 by the same.
FUNDING: Accumulative Capital Outlay Fund, General Fund.
Body
DISCUSSION / BACKGROUND
When putting together the Facilities Accumulative Capital Outlay (ACO) Workplan, staff budget for the full project costs. Projects often take longer than one fiscal year to complete and funds roll into the next budget year. The Placerville Jail Expansion Project included a large use of the Capital Designation in Fiscal Year (FY) 2025-26. Staff anticipate that a portion of the expenses for the project will take place in FY 2026-27. The attached budget transfer reduces appropriations in the ACO fund and increases the Capital Designation in FY 2025-26. This will ensure that funds remain in the Capital Designation in FY 2025-26 for use in the FY 2026-27 Budget. Without this budget transfer, funds in the Capital Designation would automatically roll into the General Fund; artificially increasing General Fund fund balance.
ALTERNATIVES
Should the Board decline to approve this item the General Fund fund balance would be overstated.
PRIOR BOARD ACTION
N/A
OTHER DEPARTMENT / AGENCY INVOLVEMENT
N/A
CAO RECOMMENDATION / COMMENTS
Approve as recommended.
FINANCIAL IMPACT
The budget transfer will reduce the use of the Capital Designation in FY 2025-26. The FY 2026-27 Recommended Budget includes the use of these Capital Designations for project expenses in FY 2026-27.
CLERK OF THE BOARD FOLLOW UP ACTIONS
Obtain Board Chair's signature on the attached Budget Transfer form and forward to the Chief Administrative Office for final processing.
STRATEGIC PLAN COMPONENT
N/A
CONTACT
Laura Schwartz, Assistant Chie...
Click here for full text