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Council fixes line-item error, transfers $97,764 within LIT Economic Development fund
Summary
Auditor Jackie Scheuman asked Council to move $97,764 within the LIT Economic Development Fund from a communications line to share-pension to correct a clerical allocation error; Council approved the transfer 4-0-3.
Auditor Jackie Scheuman requested an internal transfer of $97,764 within the LIT Economic Development Fund to correct a line-item allocation error after prior moves to shift $4.75 million of general-fund expenses to LIT Economic Development.
"When we were moving money around, we needed $97,000 more in that fund, and we just put it in the wrong line. It needs to be moved from CCP line to the share of pension so that we'll have enough in there to pay the pension for this year," Scheuman said. Council moved and approved the transfer by voice vote.
Scheuman said the correction does not change the pension amount or CCP funding overall; it simply reallocates an existing approved amount to the proper line.
