SUBJECT
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Approve a revenue-only budget transfer within the Northridge Trail Phase 1, Segment 1 Grant Fund for the FY 24/25 Budget. ($5,000,000.00 one-time transfer).
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DESCRIPTION
Budget Resolution 2022-152 appropriated funds for the Northridge Trail State Funded Grant (FPID# 449198-2-54-01) in the amount of $5,000,000.00 for the Northridge Trail Phase 1 Segment 1 CIP Project. Due to a scrivener’s error and oversight in the processing of the journal for the FY 24/25 budget, the budgeted revenue was recorded as non-project related verses the project specific account.
Approval of this budget transfer allows for the movement of the $5,000,000.00 budgeted revenue from the non-project related account to the CIP specific project account. This does not change the overall total CIP or the project budget.
RECOMMENDATION
Request Board Approve a revenue only budget transfer to the Northridge Trail Phase 1, Segment 1 Grant Fund for the FY 24/25 Budget. ($5,000,000.00 one-time transfer).
FISCAL IMPACT
Upon approval of the budget transfer, $5,000,000.00 will be administratively transferred from the Northridge Trail Phase 1 Segment 1 non-project related budget to the CIP specific project budget.
CONTACT INFORMATION
Mark Schmitz
Financial Administrator
Roads and Drainage Division
863-535-2308
Jay M. Jarvis, P.E., Director
Roads & Drainage Division
863-535-2200