HomeMy WebLinkAbout12 Transfer of funds Agenda Item # 12
Public Utility DistricL
ACTION
To: Board of Directors
From: Bob Mescher
Date: January 07, 2009
Subject: Authorization to Transfer Funds from Reserve Funds to Reimburse
the Electric and Water Department General Funds
1. WHY THIS MATTER IS BEFORE THE BOARD
Only the Board can authorize transfers from reserve funds.
2. HISTORY
In the FY08 Budget, there were two projects funded from board designated reserve funds.
The first project relates to District headquarters building maintenance and repair up to
$32,494 to be funded from the Building Reserve Fund. The second project relates to the water
meter project up to $265,823 to be funded from the Water Meter Reserve.
3. NEW INFORMATION
The District headquarters' front doors were converted to comply with ADA at a cost of $8,200
and the exterior was painted at a cost of$4,850. The total expenditures of $13,050 qualify to
be funded from Building Reserve Fund.
In FY08, the District has spent $84,738.45 towards the water meter program.
4. FISCAL IMPACT
This transfer will reimburse monies from the Board designated reserve funds to the electric
and water general funds.
5. RECOMMENDATION
Review this report and authorize the following transfers:
1) Reimburse the electric general fund from the building reserve fund for building
improvements in the amount of $13,050.00.
2) Reimburse the water general fund from the water meter reserve fund for project costs to
date in the amount of $84,738.45.
iYn Gv��r-
Mary Cha an Michael D. Holley
Administrative Services Manager General Manager