Title
Ordinance in the Amount of $156,000 Amending the FY 15-16 State Highway Allocation Capital Project Fund Budget
Body
Department: Budget & Evaluation Department
Council District: All
Public Hearing: N/A
Advertising Date/By: N/A
Contact 1 and Phone: Larry Davis, 373-2291
Contact 2 and Phone: Steven Buter, 373-2261
PURPOSE:
Amend the budget to reflect the actual amount of funding transferred between Fund 202 and Fund 402 at the end of FY 2014-15.
BACKGROUND:
At the end of FY 2014-15, the City of Greensboro transferred $154,000 from Fund 202, the State Highway Project Fund, to Fund 402, the State Highway Allocation Capital Project Fund. This was $156,000 less than was budgeted to be transferred due to a lower than projected fund balance in Fund 202. This budget ordinance corrects the budget to reflect the amount actually transferred. This item was referred to Council by the General Government Committee.
BUDGET IMPACT:
This ordinance amends the budget of Fund 402 to reflect the actual transfer and does not impact the operating budget.
RECOMMENDATION / ACTION REQUESTED:
It is requested and recommended that City Council adopt the attached ordinance to amend the State Highway Allocation Capital Project Fund budget.