Title
Budget Amendment - Debt Service Fund Transfer
Action
ACTION:
Amend the 2025-2026 Debt Service Fund (0005) budget ordinance to appropriate $66,500,000 of fund balance for transfer to the General Fund (0001)
Staff Contact: David Boyd, CFO
Presentation: No
BACKGROUND/JUSTIFICATION:
The current Fund Balance Policy measures fund balance within the General and Debt service Funds as it relates to minimum requirements and funds available for one-time expenditures. The new Fund Balance Policy envisions capturing and measuring fund balance contained within the General Fund. This is a one-time action to operationalize the new policy by moving excess fund balance within the Debt Service Fund to the General Fund.
PROCUREMENT BACKGROUND:
N/A
POLICY IMPACT:
N/A
FISCAL IMPACT:
FY26 appropriation and transfer of $66,500,000 held in the Debt Service Fund (0005) for transfer to the General Fund (0001)