Title
Vote to approve Fiscal Year 2024-2025 Budget Amendments
Abstract
Introduction & Background: During the fiscal year, the budget must be amended as changing conditions warrant. The fiscal year 2024-2025 budget ordinance authorizes the County Manager to transfer funds within a department without limitation. The Manager may also transfer amounts of up to $5,000 between departments of the same fund and transfer amounts up to $50,000 from contingency with a memorandum report of such transfers to the Board. The Board must approve all other transfers.
Discussion & Analysis: The attached proposed amendments must be approved by the Board of Commissioners for Fiscal Year 2025.
The Management Information Services budget is being increased by $25,320 for receipt of a NC Department of Information Technology Grant to increase digital literacy in the County.
The Mental Health budget is being increased by $2500 for additional estimated ABC CAP receipts.
The Utility Distribution budget is being increased by $311,462 to pay off the outstanding balance of NC Drinking Water Bonds before the Utility merger with Tri-River.
The Southeast Water District budget is being increased by $3,955,000 to pay off the outstanding balances of the USDA Series 2010 GO Bonds and USDA Series 2010A & B Revenue Bonds before the Utility merger with Tri-River.
Budgetary Impact: The proposed amendments increase the General Fund budget by $27,820. The proposed amendment increases the Utility Fund budget by $311,462 and the appropriated fund balance by $311,462. The proposed amendment increases the Southeast Water District budget by $3,955,000 and the appropriated fund balance by $3,955,000
Recommendation/Motion: Motion to approve the 2024-2025 Budget Amendments proposed by staff.