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Commissioners approve $890,547 roll-forward to FIN 15 capital reserve
Summary
The board approved a budget amendment transferring $890,547 of non-county appropriation from FY14 capital reserves into the FIN 15 Capital Reserve account so the authority remains available for capital projects in fiscal 2015.
St. Mary's County commissioners approved a budget amendment Tuesday to transfer $890,547 of non-county appropriations from the FY14 capital reserve (FIN 14) to the FIN 15 capital reserve, preserving budget authority for grants and capital projects in fiscal year 2015.
Elaine Kramer, the county's chief financial officer, told the board the annual roll-forward is a routine process to clear differences in capital projects at fiscal-year end so budget authority remains available if needed for other projects. Kramer said the amount represents state, federal and other non-county sources and allows staff to make adjustments to current projects without losing the funding authority.
"It's part of the normal process that we go through at the end and start of each fiscal year," Kramer said.
Commissioner Todd B. Morgan moved to approve the budget amendment and Commissioner Gerardo seconded; the motion passed and the chair announced the ayes had it.
The county said the transferred authority will be accessible to adjust capital projects and to match future grants; staff will return to the board if additional approvals are needed for specific contract awards or grant acceptances.
