Title
Consolidation of Capital Reserve Funds
Action
ACTION:
Close out capital reserve funds and consolidate amounts held for similar purposes by transferring amounts as indicated in the following table:
Staff Contact: David Boyd, CFO
Presentation: No
BACKGROUND/JUSTIFICATION:
This RFBA reflects accounting adjustments to reduce the number of capital reserve funds in an effort to consolidate amounts used for similar purposes. These adjustments will streamline accounting and financial reporting processes by consolidating amounts previously held in multiple funds in the County’s general ledger.
PROCUREMENT BACKGROUND:
N/A
POLICY IMPACT:
N/A
FISCAL IMPACT:
Close out and consolidate capital funds by transferring a total of $22,201,697.31 between existing funds.