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Community Development Agency, Administration and Finance Division, recommending the Board authorize the Chair to sign a Budget Transfer in the amount of $2,158,808 reducing the budget for two County-wide special revenue funds (Fund Type 20) and increasing the same budget in corresponding new index codes recently established by the Chief Administrative Office, and correcting a previously incorrect transfer of budgeted amounts. (4/5 vote required)
FUNDING: N/A
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DEPARTMENT RECOMMENDATION
Community Development Agency (CDA), Administration and Finance Division, recommending the Board authorize the Chair to sign a Budget Transfer reducing the budget for two (2) County-wide special revenue funds (Fund Type 20) and increasing the same budget in corresponding new index codes recently established by the Chief Administrative Office (CAO), and correcting a previously incorrect transfer of budgeted amounts. (4/5 vote required)
DISCUSSION / BACKGROUND
On June 28, 2016 (Item 10), the Board approved the CAO's recommendation which authorized the posting of a Budget Transfer to smooth the transition from FAMIS to FENIX by revising multiple special revenue fund index codes so they can be aligned with the organization structure which will exist in FENIX. The amounts on the budget transfer were based on the budgeted appropriations and revenues in FAMIS at the time the agenda item was drafted.
On June 14, 2016 (Item 25), the Board approved a mid-year adjustment Budget Transfer for CDA which had entries that affected two (2) of the special revenue funds which were to be realigned with FENIX. This Budget Transfer was posted on June 22, 2016, and because of timing these amounts were not included in the transfer presented by the CAO.
The Budget Transfer included with this current agenda item continues and completes the direction of the CAO's June 28 transfer recommendation and moves the remaining budgeted appropriations and revenues from the existing index codes to the recently established index codes in order to post remaining outstanding Fiscal Year 2015-2016 (FY2015-16) transactions. Additionally, after the Board approved the Budget Transfer on June 28, 2016, it was discovered that one of the new special revenue fund index codes was aligned with the wrong FENIX department; the last eight (8) lines of the current Budget Transfer corrects this alignment.
ALTERNATIVES
If this Budget Transfer is not approved, outstanding transactions for FY2015-16 will not be able to post as a portion of the needed budgeted appropriations will remain in the old index codes, and one of the new special revenue fund index codes will be in the incorrect FENIX department.
OTHER DEPARTMENT / AGENCY INVOLVEMENT
Auditor/Controller
CAO RECOMMENDATION
Chief Administrative Office concurs with staff's recommendations.
FINANCIAL IMPACT
There is no financial impact related to this Budget Transfer. They are simply accounting transactions to close out two old funds and transfer the budgeted appropriations and revenues to the correct new funds to close out FY2015-16 transactions.
CLERK OF THE BOARD FOLLOW UP ACTIONS
Clerk will have the Board Chair sign the Budget Transfer and forward it to the Auditor/Controller for posting to FAMIS.
STRATEGIC PLAN COMPONENT
Good Governance
CONTACT
Kate Sampson, Assistant Director
Administration and Finance Division
Community Development Agency