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PROPOSED TRANSFER OF FUNDS
Department: Department of Revenue
Request: Transfer of Funds
Reason: Additional postage dollars will fund the last month of Home Rule Tax Compliance Notices for FY 2017 and the Sweetened Beverage Tax (SBT) repeal notification to registered taxpayers.
From Account(s): 1007.520825, $25,000.00
To Account(s): 1007.520260, $25,000.00
Total Amount of Transfer: $25,000.00
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?
It became apparent Oct 10th, after SBT Repeal, that the receiving account would require an infusion of funds for Q4 to continue with the Home Rule Tax Compliance mailings. At that time, the balance in the account was $18,000.00, and was at this level 30 days prior.
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 departments will repurpose unused funds that were initially set aside for temporary staffing service in the first year of SBT implementation. The funds will be transferred from the professional service account, as these funds are no longer required.
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.
Originally, the department appropriated funds for temporary staffing to assist with 2017 first year implementation of the SBT. Those funds are no longer required as services have been terminated.
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