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Board authorizes $5.95 million intra-fund transfers to balance FY24-25
Summary
The board adopted Resolution 2024-2025-036 authorizing transfers of $750,000 (General Fund), $500,000 (Special Revenue Fund), and $4,700,000 (Debt Service Fund) to adjust FY24-25 appropriations; motion passed unanimously.
Director Francisco Ibarra read Resolution 2024-2025-036 into the record authorizing intra-fund transfers within the FY24-25 budget. The resolution directs a transfer of $750,000 within General Fund appropriations, $500,000 within Special Revenue Fund appropriations, and $4,700,000 within Debt Service Fund appropriations to correct or realign the current fiscal year budget.
The motion was recorded as made by Aaron Muf1oz and seconded by Patty Carrera, and the board voted to approve the transfers unanimously (Yea: 7, Nay: 0). "I move that the Board adopt Resolution 2024-2025-036, a resolution transferring $750,000 within General Fund appropriations, $500,000 within Special Revenue Fund appropriations, and $4,700,000 within Debt Service Fund appropriations in the budget for the fiscal year beginning July 1, 2024," the record states.
Board members did not record additional conditions on the transfers during the meeting; the resolution was presented and adopted as read.
