Title
Library Department recommending the Board approve a budget transfer from the Mt. Democrat Thomas Kinkade special revenue fund to the Main Library Audio Books fund in the amount of $1.00 to close out a residual balance of $0.69 in accrued interest in the Mt. Democrat Thomas Kinkade special revenue fund. (4/5 vote required)
FUNDING: Special Revenue Fund.
Body
DEPARTMENT RECOMMENDATION
Library Department recommending the Board approve a budget transfer from the Mt. Democrat Thomas Kinkade special revenue fund to the Main Library Audio Books fund in the amount of $1.00 to close out a residual balance of $0.69 in accrued interest in the Mt. Democrat Thomas Kinkade special revenue fund.
DISCUSSION / BACKGROUND
Library Department recommending the Board approve a budget transfer from the Mt. Democrat Thomas Kinkade special revenue fund to the Main Library Audio Books fund in the amount of $1.00 (budget transfers must be rounded to whole dollars) to close out a residual balance of $0.69 in accrued interest in the Mt. Democrat Thomas Kinkade special revenue fund. The special revenue fund no longer collects revenue and the residual balance must be closed out before the fund can be closed. The special revenue fund will be closed once this transfer is complete.
ALTERNATIVES
N/A
OTHER DEPARTMENT / AGENCY INVOLVEMENT
N/A
CAO RECOMMENDATION
Approve budget transfer in the amount of $1.00 from the Mt. Democrat Thomas Kinkade special revenue fund to the Main Library Audio Books fund.
FINANCIAL IMPACT
No change to Net County Cost.
CLERK OF THE BOARD FOLLOW UP ACTIONS
Clerk of the Board to obtain the Chair's signature on budget transfer and forward to Auditor's Office for processing.
STRATEGIC PLAN COMPONENT
N/A - this is an accounting clean-up process to delete a fund that no longer collects revenue.
CONTACT
Jeanne Amos, Director of Library Services