title
PROPOSED TRANSFER OF FUNDS
Department: Cook County Board of Review
Request: Transfer of Funds
Reason: A transfer of funds is requested to reconcile a projected deficit in the CCBOR’s overtime account and to add funding to the postage account to facilitate upcoming mailings.
From Account(s): 11000.1050.35010.501010-Salary & Wages $258,000.00
To Account(s): 11000.1050.35010.501211- Overtime $200,000.00; 11000.1050.10155.520260 - Postage $58,000.00
Total Amount of Transfer: $258,000.00
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?
On September 20, 2024 we identified surplus payroll funds that can be used to address unanticipated FY24 expenditures. The balance in the overtime account was ($141,511.02). 30 days prior it was $(127,455.35). The balance in the postage account was $3,500.00. 30 days prior it was the same.
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 chosen solely due to the availability of funds, with a projected year-end surplus of $1.0 million.
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.
None.
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 office has experienced attrition and delayed hiring creating a surplus of funds in the salary and wages of the regular employee’s account.
end