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PROPOSED TRANSFER OF FUNDS
Department: Cook County Assessor’s Office
Request: Transfer of Funds
Reason: For the purpose of purchasing call center technology for the office.
From Account(s): 11000.1040.13945.520270, $160,000.00
To Account(s): 11000.1040.13945.531690, $160,000.00
Total Amount of Transfer: $160,000.00
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 on 4/11/2019 that the account would require additional funds. The balance in the account was $273,898.80, but that balance has obligations designated to it for the remainder of FY2019.
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 account used for the source of the transferred funds was identified as having enough funds to accommodate the postage needs of the office for the remainder of the fiscal year.
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 prior CCAO administration estimated the postage needs for the office for 2019. We have revised our postage needs for the year based on changes made to the volume of mailings done for 2019, as well as the need for the funds to cover a vital project key to the new assessor’s operational priorities.
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