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PROPOSED TRANSFER OF FUNDS
Department: Office of the Chief Judge, Circuit Court of Cook County
Request: To approve a transfer of funds between accounts within the Office of the Chief Judge.
Reason: A transfer of funds is necessary to reconcile deficits with certain operating accounts as a result of cost increases and the payment of expenses that were unplanned for FY2024.
From Account(s):
11100.1310.35095.501010 ($100,000)
11100.1440.10155.520830 ($400,000)
11100.1440.35495.501010 ($515,200)
11285.1310.16195.520830 ($300,000)
To Account(s):
11100.1310.15345.520209 ($100,000)
11100.1440.35225.530010 ($400,000)
11100.1440.10155.540135 ($515,200)
11285.1310.16195.501010 ($295,712)
11285.1310.16195.501511 ($4,288)
Total Amount of Transfer: $1,315,200.00
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?
In April 2024, the Office of the Chief Judge conducted a budget analysis which reflected negative variances that exist or are anticipated to exist within certain budgeted accounts. These findings prompted a budget transfer request to avoid funding failures and exceptions.
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.
For the source of the budget transfer, the Office of the Chief Judge proposes to use funds from Personnel, and Professional Services, accounts to cover the negative variances within the Food Services and Food Supply accounts and Working Capital account. OCJ also proposes to transfer funds from F11285 Professional Services account to accommodate paying for positions that were only partially funded with an ARPA allocation, and which positions will be filled before the end of FY24. The Office of the Chief Judge...
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