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PROPOSED TRANSFER OF FUNDS
Department: Cook County Assessor’s Office
Request: Transfer of Funds
Reason: To fund a software purchase under the countywide SHI contract.
From Account(s): 11000.1040.10155.520260 Postage $208,064.21
To Account(s): 11000.1040.10155.520830 Professional Services, $208,064.21
Total Amount of Transfer: $208,064.21
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 that the receiving account would need additional funds on October 3, 2022. The balance on October 3, 2022 was $81,313.78 (NOTE: This amount reflects all known obligations for the remainder of FY2022). The balance 30 days prior to October 3, 2022 was $81,313.78.
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 CCAO discovered that there will be a surplus in the Postage account at the end of FY202 due to changes in our mailing schedule.
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.
Without the software purchase, the CCAO will not be able to complete a software implementation that will enhance our capacity to provide excellent customer service.
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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