HomeMy WebLinkAbout[04g] Transfers
Council Agenda Item 4g
MEETING DATE: August 7, 2017
AGENDA ITEM: Transfers
SUBMITTED BY: Finance
BOARD/COMMISSION/COMMITTEE RECOMMENDATION: None
PREVIOUS COUNCIL ACTION: Council issued abatements bonds for the Colts Academy purchase
to be paid with local option sales tax.
BACKGROUND INFORMATION:
Operational transfers move funds from one fund to another. In the case of the first transfer below, the
funds are moved from the local option sales tax fund to the Colts Academy abatement bonds fund to
cover the 2017 bond payments. The second operational transfer reimbursed the general fund for
preliminary costs incurred for the CBD Alley improvement project. The costs were incurred in 2016 for
the feasibility study.
Transfer In Transfer Out
Fund 200 – Local Option Sales Tax $162,000
Fund 353 – Colts Academy Bonds $162,000
Fund 101 – General Fund $10,815.78
Fund 405 – CBD Alley Project Fund $10,815.78
BUDGET/FISCAL IMPACT: $172,815.78 between funds
ATTACHMENTS: Request for Council Action – Transfers
REQUESTED COUNCIL ACTION: Authorize the operating transfers as presented.