Action 15.
Regular Board of Supervisors Meeting
Finance
- Meeting Date:
- 05/23/2023
- Title:
- Contingency Funding Request for Long Term Care
- Submitted By:
- Juan Frisby, Finance
- Department:
- Finance
Presentation:
No A/V Presentation
Recommendation:
Approve
Document Signatures:
BOS Signature NOT Required
# of ORIGINALS
Submitted for Signature:
Submitted for Signature:
0
NAME
of PRESENTER:
of PRESENTER:
Juan Frisby
TITLE
of PRESENTER:
of PRESENTER:
Budget Manager
Mandated Function?:
Not Mandated
Source of Mandate
or Basis for Support?:
or Basis for Support?:
Docket Number (If applicable):
Information
Agenda Item Text:
Approve the transfer of $582,801 from the General Fund Contingency to the State Cost Shift Long Term Care budget.
Background:
The long-term care contribution account has exceeded its budget for Fiscal Year 2023. To cover the final payment for June, $582,801 is required from the contingency account.
Department's Next Steps (if approved):
If this request is approved, we will promptly create a budget amendment to transfer the requested funds from the contingency account to the long term care contribution account. We will also work to ensure that we stay within our budget for the upcoming year by conducting a thorough review of projected expenditures.
Impact of NOT Approving/Alternatives:
If the request is not approved, the Long Term Care Contribution account will exceed its budget for the year.
To BOS Staff: Document Disposition/Follow-Up:
Please review the proposed budget amendment.
Fiscal Impact
- Fiscal Year:
- FY23
- One-time Fixed Costs? ($$$):
- 582,801
- Source of Funding?:
- 100-9900-9-491.100
Fiscal Impact & Funding Sources (if known):
100-9900-9-491.100 Contingency