HomeMy WebLinkAbout[04i] Transfers Council Agenda Item 4[i]
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MEETING DATE: May 16, 2016
AGENDA ITEM: Transfers
SUBMITTED BY: Finance
BOARD/COMMISSION/COMMITTEE RECOMMENDATION: None
PREVIOUS COUNCIL ACTION: Council approved GO Tax Abatement bonds for the purchase of
Colts Academy in 2015. The annual bond payments will be made from local option sales tax.
BACKGROUND INFORMATION:
The operating transfer below is to move local option sales tax revenues to the GO Tax Abatement bond
fund for the annual debt service payment.
Operating Transfer transfer in transfer out
200-Local Option Sales Tax $164,480.00
353-2015B GO Tax Abatement Bonds $164,480.00
BUDGET/FISCAL IMPACT: $164,480.00 between funds
ATTACHMENTS: Request for Council Action—Transfers
REQUESTED COUNCIL ACTION: Authorize the 2016 transfers as requested.
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