AI- 95031
Budget and Management 20.B.4.
CC REGULAR AGENDA SPECIAL MTG
Budget Appropriations
- Meeting Date:
- 04/30/2024
- Submitted For:
- Dagoberto Soto
- Submitted By:
- Angélica M. Tapia
- Department:
- BUDGET & MANAGEMENT
CAPTION
Debt Service Funds (14XX):
Approval of 2024 appropriation of various Debt Service Funds in the amount of $22,705.90 to fund 2024 BNY Mellon Corporate Trust invoices.
Approval of 2024 appropriation of various Debt Service Funds in the amount of $22,705.90 to fund 2024 BNY Mellon Corporate Trust invoices.
BACKGROUND
BNY FISCAL AGENT FEE HAS INCREASED FROM $750 TO $825 EFFECTIVE 10/16/23 - AFTER THE 2024 BUDGET WAS ADOPTED.
CERTIFICATES OF OBLIGATION, SERIES 2023 WERE SOLD ON THE SAME DAY THAT THE 2024 BUDGET WAS ADOPTED. THE DEBT SERVICE FUND 1459 BUDGET WAS BASED ON AN ESTIMATE. THERE IS A VARIANCE OF $21,580.90 IN THE INTEREST PAYMENT THAT IS DUE ON 8/15/24. TRANSFER IS BEING DONE FROM FUND 1359 (CERTIFICATES OF OBLIGATION, SERIES 2023 CAPITAL PROJECT) INTEREST EARNED IN 2023 ($476,488.89) THAT CLOSED TO FUND BALANCE AT YEAR END.
CERTIFICATES OF OBLIGATION, SERIES 2023 WERE SOLD ON THE SAME DAY THAT THE 2024 BUDGET WAS ADOPTED. THE DEBT SERVICE FUND 1459 BUDGET WAS BASED ON AN ESTIMATE. THERE IS A VARIANCE OF $21,580.90 IN THE INTEREST PAYMENT THAT IS DUE ON 8/15/24. TRANSFER IS BEING DONE FROM FUND 1359 (CERTIFICATES OF OBLIGATION, SERIES 2023 CAPITAL PROJECT) INTEREST EARNED IN 2023 ($476,488.89) THAT CLOSED TO FUND BALANCE AT YEAR END.
Fiscal Impact
- CALENDAR YEAR:
- 2024
- ACCT. #:
- 4-1XXX--XXX-XX-000-000-0-XXX
- FUNDS AVAILABLE Y/N?:
- Y
- MATCHING FUNDS Y/N?:
- N
BUDGETARY IMPACT:
APPROPRIATION OF FUNDS FROM UNASSIGNED FUND BALANCE TO FUND PENDING INVOICES FROM BNY MELLON CORPORATE TRUSTAttachments
Form Review
| Inbox | Reviewed By | Date |
|---|---|---|
| Budget and Management | Veronica Ortiz | 04/26/2024 08:57 AM |
| Budget and Management | Veronica Ortiz | 04/26/2024 09:32 AM |
| Final Approval | Monica Salinas | 04/26/2024 06:27 PM |
- Form Started By:
- Angélica M. Tapia
- Started On:
- 04/19/2024 10:36 AM
- Final Approval Date:
- 04/26/2024