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File #: 21-3535    Version: 1 Name: Transfer of Funds
Type: Transfer of Funds Status: Approved
File created: 6/1/2021 In control: Board of Commissioners
On agenda: 6/24/2021 Final action: 6/24/2021
Title: PROPOSED TRANSFER OF FUNDS Department: Department of Budget & Management Services Request: Transfer of Funds Reason: Funds needed in a reimbursement account in order to pay invoices due to the Forest Preserve as part of the Cook County / Forest Preserve intergovernmental agreement. From Account(s): 11100.1499.1030.580300 General and Contingency To Account(s): 11100.1499.11030.580033 Reimbursement Designated Fund Total Amount of Transfer: $450,000.00 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? This transfer of funds became apparent on 5/25/2021. The balance in that account was $147,673. On 4/25/2021, the balance in that account was also $147,673. How was the account used for the source of transferred funds identified? List any other accounts that were also considered (b...
Indexes: ANNETTE GUZMAN, Budget Director

title

PROPOSED TRANSFER OF FUNDS

 

Department:  Department of Budget & Management Services

 

Request:  Transfer of Funds 

 

Reason:  Funds needed in a reimbursement account in order to pay invoices due to the Forest Preserve as part of the Cook County / Forest Preserve intergovernmental agreement.  

 

From Account(s):  11100.1499.1030.580300 General and Contingency

 

To Account(s):  11100.1499.11030.580033 Reimbursement Designated Fund

 

Total Amount of Transfer:  $450,000.00 

 

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?

 

This transfer of funds became apparent on 5/25/2021. The balance in that account was $147,673. On 4/25/2021, the balance in that account was also $147,673.

 

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 General and Contingent account was identified has having a sufficient balance for the transfer. 

 

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.

 

N/A 

 

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.

 

This account is budgeted for general and contingency purposes.

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