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PROPOSED TRANSFER OF FUNDS
Department: Office of the Chief Procurement Office
Request: Transfer of funds
Reason: To allow funds to pay for annual license, maintenance and support of the County online marketplace system
From Account(s): 030-249, $11,500.00; 030-186, $5,233.00)
To Account(s): 030-441
Total Amount of Transfer: $16,733.00
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?
It became apparent on 5/4/2016 that additional funds would be needed in this account. The balance on 5/4/2016 was $39,267.00
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.
These accounts were chosen to be used for the sources of funds because of the amount of unencumbered balances available.
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.
Cook County cohosts the Annual Vendor Fair with the City of Chicago. This year, the Vendor Fair was held on May 25, 2016, at the UIC Forum. This account is budgeted annually in order to ensure adequate funds are available to cover the County share of the fair-related expenses. In addition, OCPO will not hold a training session for its employees in 2016.
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