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PROPOSED TRANSFER OF FUNDS
Department: Chicago Board of Election Commissioners
Request: Approval of Transfer of Funds
Reason: Postage
From Account(s): 11306.1525.10830.520825/Professional Services $ 420,000.00)
To Account(s): 11306.1525.10830.520259/Postage $ 420,000.00
Total Amount of Transfer: $420,000.00
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 7/13/2018 the Board determined that it would need $ 420,000.00 in postage funds for the balance of Fiscal 2018. The balance at that time was $132,880.73. Those funds have been used and the account balance at this time is $0.00. The balance in the postage account 30 days prior was $700,000.00.
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.
This account supports election related professional services, the largest percentage of which is for temporary staffing.
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. The Board expends a significant amount of the appropriation on temporary staffing. It would be acceptable to reduce the level of temporary staffing to provide sufficient funds for this 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 need for professional services for the Primary Election was expected to be greater than the expenses actually incurred.
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