Title
Budget Adjustments Open Lands - Approval
History
A detailed spreadsheet (by fund) of budget adjustments is attached showing an increase in revenues of $2,560,726 and an increase in expenditures of $2,189,404.
The increase in revenues is as follows:
- Rollover of General Fund subsidy to the Open Lands Fund - $371,322
- Transfer of receipt of Line of Credit proceeds to the CIP Fund - $2,189,404
- Transfer of funds into the Open Lands Fund from the CIP Fund - $2,189,404
- Reclassify receipt of Line of Credit proceeds in the Open Lands Fund - ($2,189,404).
The increase in expenditures is due to transferring the receipt of the Line of Credit Proceeds out of the CIP Fund - $2,189,404.
On September 5, 2017, this item was reviewed and approved by the Finance Committee and referred to the Board of Trustees for approval.
Financial Impact
The attached spreadsheet identifies the budget impact.
Recommended Action/Motion
I move to approve increasing the FY2017 revenue budget by $2,560,726 and increasing the FY2017 expenditure budget by $2,189,404.