Title:
Fleet Auction Revenue
Summary
ACTION:
Recognize, receive and appropriate from the vehicle auction on January 12, 2019, revenue of $210,830.50 and appropriate $208,793.14 to the Fleet Reserve Fund and $2,037.36 to the Department of Social Services transportation unit
Staff Contact: Mark Bevilacqua, Fiscal Administrator
Asset and Facility Management
Presentation: No
BACKGROUND/JUSTIFICATION:
Net proceeds of $210,830.50 were realized from the vehicle auction in January 2019. The Department of Social Services sold one vehicle for a net of $2,037.36 that was originally funded by the North Carolina Department of Transportation (NCDOT). Regulations require the sale proceeds from NCDOT funded vehicles be used by the DSS transportation unit. The remaining $208,793.14 would be appropriated to the Fleet Reserve Fund.
PROCUREMENT BACKGROUND:
N/A
POLICY IMPACT:
N/A
FISCAL IMPACT:
Recognize a total increase in FY19 revenues and expenses of $210,830.50, consisting of net proceeds of $208,793.14 for the Fleet Reserve Fund (9010) and the remainder in the General Fund (G001) $2,037.36