Title
a. Amend the Board Order dated March 8, 2016, based upon Board Report 16-296, increasing appropriations of $291,817.90 for the FY 2015-16 Economic Development Department’s Revolving Loan Fund, Fund 011 Appropriations Unit DEO020, Unit 8044, financed by an operating transfer of $291,817.90 from the Unassigned Fund Balance to;
b. Authorize Auditor-Controller to amend the FY2015-16 General Fund adopted budget, Fund 001, Appropriation Unit CAO017, to increase appropriations by $291,818, financed by General Fund 001 Unassigned Fund Balance; (4/5th vote required)
c. Authorize Auditor-Controller to make an operating transfer out of $291,817.90 from the General Fund, Fund 001, Appropriation UnitCAO017, to Economic Development Department’s Revolving Loan Fund, Fund 011 Appropriations Unit DEO020; and (4/5th vote required)
d. Authorize Auditor-Controller to amend the FY2015-16 adopted budget, Economic Development Department’s Revolving Loan Fund 011, Appropriation Unit DEO020, to increase appropriations by $291,818, financed by an operating transfer in from the General Fund 001, Appropriation Unit CAO017; (4/5th vote required).
Report
RECOMMENDATION:
It is recommended that the Board of Supervisors:
a. Amend the Board Order dated March 8, 2016, based upon Board Report 16-296, increasing appropriations of $291,817.90 for the FY 2015-16 Economic Development Department’s Revolving Loan Fund, Fund 011 Appropriations Unit DEO020, Unit 8044, financed by an operating transfer of $291,817.90 from the Unassigned Fund Balance to;
b. Authorize Auditor-Controller to amend the FY2015-16 General Fund adopted budget, Fund 001, Appropriation Unit CAO017, to increase appropriations by $291,818, financed by General Fund 001 Unassigned Fund Balance; (4/5th vote required)
c. Authorize Auditor-Controller to make an operating transfer out of $291,817.90 from the General Fund, Fund 001, Appropriation Unit CAO017, to Economic Development Department’s Revolving Loan Fund, Fund 011 Appropriations Unit DEO020; and (4/5th vote required)
d. Authorize Auditor-Controller to amend the FY2015-16 adopted budget, Economic Development Department’s Revolving Loan Fund 011, Appropriation Unit DEO020, to increase appropriations by $291,818, financed by an operating transfer in from the General Fund 001, Appropriation Unit CAO017; (4/5th vote required).
SUMMARY/DISCUSSION:
On March 8, 2016, the Board of Supervisors approved increasing appropriations in the Economic Development Department’s Revolving Loan Fund, Fund 011 Appropriations Unit DEO020, Unit 8044. The increase in appropriations was financed by an operating transfer from Unassigned Fund Balance. The Board Order is being amended to 1) increase General Fund appropriations in order to allow for the operating transfer out, and 2) specify the source of funding to identify the Fund and Appropriation Unit
OTHER AGENCY INVOLVEMENT:
The Auditor Controller and County Counsel have reviewed this report.
FINANCING:
This report will not have any impact on the General Fund as the operating transfer was previously approved by the Board of Supervisors on March 8, 2016, Board Report 16-296.
Prepared by: ________________________________________________________________
Darby Marshall, RHO Project Analyst II, Ext. 5391
Approved by: ________________________________________________________________
David L. Spaur, CEcD, EDFP, Economic Development Director, Ext. 5387
Attachments:
Board Order for File ID 16-296 No. 26
(Attachments are on file with the Clerk of the Board)