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Waukegan committee approves $2 million transfer to cover approved fixed-asset costs
Summary
On Feb. 2 the Waukegan Finance & Purchasing Committee approved an ordinance correcting fiscal-year appropriations and a one-time $2,000,000 transfer from the general fund to the fixed asset replacement fund to allow previously approved expenditures to be paid.
The Waukegan Finance & Purchasing Committee voted Feb. 2 to correct this fiscal year’s appropriation ordinance and transfer $2,000,000 from General Fund 100 to Fixed Asset Replacement Fund 307 to cover previously approved council expenditures.
The ordinance repeals a redundant appropriation measure (listed in materials as ordinance 25-0-141) and addresses a shortfall identified during mid-year review. Juan, director, said, "We currently have, I think, about 800,000 items outstanding," noting that figure does not include a previously approved boat purchase. Alderman Floyd clarified, "You meant $800,000," and staff confirmed the figure referred to dollars.
Alderman Felix moved the ordinance; Alderman Martinez seconded. The roll call was unanimous in favor (Aldermen Newsome, Florian, Felix and Martinez voted "aye"); the motion carried.
Committee members said the transfer is intended to allow vendors and previously authorized purchases to be paid without seeking additional budget authority. Staff described the shortfall as the result of incorrect original budget amounts that were identified during mid-year reconciliation.
The committee did not change programs or add new spending authority beyond the single transfer. The ordinance package and motion materials included a staff list of outstanding fixed-asset items; the detailed item-by-item list was not read into the record and is available from the finance department upon request.
The committee moved on to other business after the vote.
