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PROPOSED TRANSFER OF FUNDS
Department: Department of Budget & Management Services
Request: Transfer funds within fixed charges
Reason: To support the contract increases approved by the Board during the April board meeting on Item 23-2424 to increase the contract by $207,250.00, and Item #23-2140 to increase the contract by $708,069.00.
From Account(s): 11000.1490.11030.521313, $980,000.00
To Account(s): 11000.1490.11030.520830, $900,000.00; 11000.1490.11030.520894, $80,000.00;
Total Amount of Transfer: $980,000.00
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?
On April 1, 2023 as we finalized the amendment scopes with the two vendors. The account has sufficient funding to only cover the monthly invoices under the original scopes of each agreement.
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 from which funding is being moved has sufficient funding to cover the budgeted items through the rest of the 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.
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.
Contract savings allowed the surplus.
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