Summary
To: Mayor Gary H. Katica, Commissioners
From: Stefan Massol, Director of Support Services
Date: 8/17/2018
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Subject:
Title
Approval of Amendment to FY 2017-18 Annual Budget
Summary:
The Capital Equipment Replacement Fund currently holds reserves that were designated for Water and Solid Waste Fund equipment replacements. Staff proposes transferring those funds back to the Water and Solid Waste funds.
End
Body
Previous Commission Action: N/A
Background/Problem Discussion: In past years the Water Fund and Solid Waste Fund contributed amounts to the Capital Equipment Replacement Fund to help establish reserves for future equipment needs. To ensure that the capital equipment reserves for the Water and Solid Waste Funds are not appropriated for other needs, staff recommends that the reserves belonging to the Water and Solid Waste departments be transferred from the Capital Equipment Replacement Fund into the Water Fund and Solid Waste Fund.
Expenditure Challenges None
Financial Implications: None
Recommendation: Staff recommends that the budget be amended as shown.
Proposed Motion I move approval of the Resolution 2018-36 amending the fiscal year 2017-18 budget.