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Village of Industry board authorizes potential $15,000 inter-fund transfer
Summary
The Village of Industry Board of Trustees on April 7 authorized Treasurer Black to transfer up to $15,000 from the Equipment Fund to the General Fund if needed; the motion passed unanimously. The board said there is not an immediate need but approved the contingency to cover a likely near-term shortfall.
The Village of Industry Board of Trustees on April 7 authorized Treasurer Black to transfer up to $15,000 from the village Equipment Fund to the General Fund if a need arises, after a unanimous vote at the Kiwanis Building meeting.
Trustee Thompson moved to authorize the transfer and Trustee Murray seconded. The board noted there was not a present need but said a shortfall could occur "in the very near future," and approved the contingency so the treasurer can act without returning to the board for a separate vote.
The motion specified the maximum amount — $15,000 — and passed with a unanimous vote. No additional conditions or a timetable for use were recorded in the minutes.
