To: BOARD OF SUPERVISORS
From: General Services Agency
Meeting Date: July 23, 2024
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Department Contact: |
Tim Hallman |
Phone: |
707-234-6037 |
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Item Type: Regular Agenda |
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Time Allocated for Item: 15 Minutes |
Agenda Title:
title
Discussion and Possible Action Including Approval of Appropriation Transfer of Funds from Fund 1100 Line Item 770017 General Reserve by $4,000,000 for Fiscal Year 2024/25 to Fund 1100 Line Item 770079 Designated Reserve for COP Related Projects, Transfer of Funds from Fund 1100 Line Item 770079 Designated Reserve for COP Related Projects by $4,000,000 to Fund 1100, Org Code ND, Increasing Line Item ND-827802 (Operating Transfer In) by $4,000,000, Transfer of Funds from Fund 1100, Org Code ND, to Fund 1300, Org Code CP, Increasing Line Item ND-865802 (Operating Transfer Out) by $4,000,000 for Fiscal Year 2024/25
(Sponsor: General Service Agency)
End
Recommended Action/Motion:
recommendation
Approve appropriation transfer of funds from Fund 1100 Line Item 770017 General Reserve by $4,000,000 for Fiscal Year 2024/25 to Fund 1100 Line Item 770079 Designated Reserve for COP Related Projects, Transfer of Funds from Fund 1100 Line Item 770079 Designated Reserve for COP Related Projects by $4,000,000 to Fund 1100, Org Code ND, Increasing Line Item ND-827802 (Operating Transfer In) by $4,000,000, Transfer of Funds from Fund 1100, Org Code ND, to Fund 1300, Org Code CP, Increasing Line Item ND-865802 (Operating Transfer Out) by $4,000,000 for Fiscal Year 2024/25; and authorize the Chair to sign same.
End
Previous Board/Board Committee Actions:
Board of Supervisor Meeting February 8, 2022 Item 4A - Adoption of Resolution Declaring Mendocino County’s Intent to use Proceeds of Indebtedness to Reimburse Itself for Expenditures Related to the Jail Expansion Project. Pursuant to Section 1.150-2 of the Code of Federal Regulations (CFR), the County may use debt proceeds to reimburse expenditures by making an official declaration. The proposed Resolution declares the County’s intent to use debt proceeds to finance costs associated with the Jail Expansion Project, including construction costs and costs for other improvements and equipment. Debt obligations are not currently anticipated to exceed $4,000,000. Costs associated with the Jail Expansion Project will initially be covered by General Reserves, and General Reserves will be reimbursed at time of bond issuance.
Board of Supervisor Meeting July 12, 2022 Item AA, File number 22-0934 - Approval of Appropriations Transfer of Funds from Fund 1100, to Fund 1300, Org Code CP, Increasing Line Item CP-825490 State Other Revenue (SB844) by $3,750,000, Increasing Line Item CP-827802 (OTO Funds Transfer In) by $3,000,000, Increasing Line Item CP-864365 Construction Progress by $3,115,000 and Increasing Line Item ND-865802 (OTO Funds Transfer Out) by $3,000,000.
Summary of Request:
For cash flow purposes, due to a 60-to-90-day delay in reimbursement from the State for their portion of the Jail project funding, the department is asking for approval to transfer funds from General Reserve ultimately into Capital Projects for the match to SB844 State funding, and then back into General Reserve once expenses are reimbursed by the 2022 Certificates of Participation (COPs) funding. There should be no negative impact at Fiscal Year End to the General Reserve as the full amount requested will be reimbursed within the same fiscal year from the COPs. Below is the tracking of how the funds will move from General Reserve into a designated reserve, into Non-Departmental Revenue, into Capital Projects, and then ultimately back into General Reserve.
Approve:
1. Appropriation of funds from General Reserve (Fund 1100) into the Designated Reserve for COP Related Projects (Fund 1100) in the amount of $4,000,000 for Fiscal Year 2024/25,
2. Then approve appropriation of funds from Designated Reserve for COP Related Projects (Fund 1100) into Non-Departmental Revenue (Fund 1100) in the amount $4,000,000 for Fiscal Year 2024/25,
3. Then approve appropriation of funds from Non-Departmental (Fund 1100) into Capital Projects (Fund 1300) for match to SB844 State Funding for Jail in the amount of $4,000,000 for Fiscal Year 2024/25,
4. Then approve appropriation of funds from Debt Service (Fund 1400) into Non-Departmental Revenue (Fund 1100) for Fiscal Year 2024/25 as expenses are reimbursed from the 2022 Certificates of Participation,
5. Then finally approve appropriation of funds from Non-Department Revenue (Fund 1100) into General Reserve for Fiscal Year 2024/25.
Alternative Action/Motion:
Do not accept and provide alternate direction
Strategic Plan Priority Designation: A Safe and Healthy County
Supervisorial District: All
Vote Requirement: 4/5ths
Supplemental Information Available Online At:
Fiscal Details:
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source of funding: General Reserve reimbursed back by COPs |
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current f/y cost: $0 |
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budget clarification: N/A |
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annual recurring cost: N/A |
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budgeted in current f/y (if no, please describe): Yes - Transfers for Capital Projects and Debt Service were budgeted but use of funds from reserve into non-department and transfer back into reserves was not budgeted. |
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revenue agreement: No |
AGREEMENT/RESOLUTION/ORDINANCE APPROVED BY COUNTY COUNSEL: N/A
CEO Liaison: Tony Rakes, Acting Deputy CEO
CEO Review: Yes
CEO Comments:
FOR COB USE ONLY
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Executed By: Atlas Pearson, Senior Deputy Clerk |
Final Status: Approved |
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Date: July 23, 2024 |
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