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PROPOSAL:

FY 1998-99 Budget Transfer

SYNOPSIS:

At Board direction, staff has periodically brought to the Board all necessary budget transfers occurring during the fiscal year. Budget transfers are the result of Board actions, further definition of programs approved in the budget, reorganizations, or budget corrections. These transfers move moneys to the appropriate expenditure accounts and do not require additional appropriations.

COMMITTEE:

Not applicable

RECOMMENDED ACTION:

1. Recognize $1,555,133 in revenue from the EPA for the PAMS Program.

2. Transfer $43,600 from the Fixed Assets Major Object to the Services and Supplies Major Object for the items identified as fixed assets in the FY 1998-99 budget that have not yet been purchased and are no longer classified as fixed assets because their cost is less than $2,500.

Barry R. Wallerstein, D.Env.
Executive Officer

Background

In August 1998 the Governing Board adopted Agenda Item No. 15 to appropriate $1,555,133 from the Undesignated Fund Balance to the FY 1998-99 budget for the PAMS program. It is necessary to also recognize the corresponding $1,555,133 in revenue that is associated with the appropriation adopted in August.

In April 1999 the Governing Board adopted a revised Procurement Policy and Procedure. Included in that revision was a change in the dollar threshold for total acquisition cost of a fixed asset from $1,500 to $2,500. There are five items included in the FY 1998-99 fixed asset budget that have not yet been purchased and no longer qualify as a fixed asset. A budget transfer is necessary to reallocate the funds from the Fixed Assets Major Object, Fixed Asset Account, to the appropriate Services and Supplies Major Object account. Listed below are the items in the FY 1998-99 fixed asset budget that are affected.

Attachments

August 14, 1998 Board Letter - Agenda No. 15

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