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PROPOSED TRANSFER OF FUNDS
Department: Bureau of Finance Office of the Chief Financial Officer
Request: Transfer of Funds
Reason: To replenish funds needed
From Account(s): 110000.1490.33840.580010
To Account(s): 11000.1490.14270.520894
Total Amount of Transfer: $145,000.00
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 was noticed on 3-6-2020. Balance as of 3-6-2020 was $1,724,000.00 and as of 4-6-2020 was $1,473,550 however, this fund will be used to pay a original contract (RSM LLC) in the amount of $1,724,000.00
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.
The account was budgeted for County settlements. We reviewed all possible fixed charged accounts
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.
We have reviewed all the settlements carefully and identified that due to COVID, some settlements will be delayed and deferred to next year
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.
N/A
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