File #: 24-5730    Version: 1 Name: PROPOSED TRANSFER OF FUNDS
Type: Transfer of Funds Status: Agenda Ready
File created: 10/9/2024 In control: Board of Commissioners
On agenda: 10/24/2024 Final action:
Title: PROPOSED TRANSFER OF FUNDS Department: Office of the Chief Judge, Juvenile Probation and Court Services Department Request: Approval of transfer of funds Reason: A transfer of funds is necessary to reconcile deficits with certain operating accounts From Account(s): 11100.1326.15295.501010, $750,000.00 Salary and Wage To Account(s): 11100.1326.15295.521313, $750,000.00 Special or Coop Programs Total Amount of Transfer: $750,000.00 On what date did it become apparent that the receiving account would require an infusion of funds in order to meet current obligations? What was the balance in the account on that date, and what was the balance 30 days prior to that date? As of October 10, 2024, office projections for expenditures indicated that the requested transfers are necessary to continue to pay invoices for services through the end of FY2024. How was the account used for the source of transferred funds identified? List any other accounts that were also considere...
Indexes: TIMOTHY C. EVANS, Chief Judge, Circuit Court of Cook County
Date Ver.Action ByMotionResultAction DetailsMeeting DetailsVideo
No records to display.

title

PROPOSED TRANSFER OF FUNDS

 

Department:  Office of the Chief Judge, Juvenile Probation and Court Services Department 

 

Request:  Approval of transfer of funds

 

Reason:  A transfer of funds is necessary to reconcile deficits with certain operating accounts

 

From Account(s):  11100.1326.15295.501010, $750,000.00 Salary and Wage

 

To Account(s):  11100.1326.15295.521313, $750,000.00 Special or Coop Programs

 

Total Amount of Transfer:  $750,000.00

 

On what date did it become apparent that the receiving account would require an infusion of funds in order to meet current obligations?  What was the balance in the account on that date, and what was the balance 30 days prior to that date?

 

As of October 10, 2024, office projections for expenditures indicated that the requested transfers are necessary to continue to pay invoices for services through the end of FY2024. 

 

How was the account used for the source of transferred funds identified?  List any other accounts that were also considered (but not used) as the source of the transferred funds.

 

The Salary and Wages account was identified as having adequate surplus to act as the source of transfer. 

 

Identify any projects, purchases, programs, contracts, or other obligations that will be deferred, delayed, or canceled as a result of the reduction in available spending authority that will result in the account that funds are transferred from.

 

There will be no deferred, delayed or canceled projects, purchases, contracts, or other obligations as a result of the transfer. 

 

If the answer to the above question is “none” then please explain why this account was originally budgeted in a manner that caused an unobligated surplus to develop at this point in the fiscal year.

 

The surplus is the result of new approved, budgeted, vacant positions.

end