5:33 p.m. Public Hearing Request - Fund Balance Carry-forwards
From:
Stephan Hall, Budget Manager
Organization:
Asst County Administrator
CAO Approval:
RECOMMENDATION:
Recommendation Concerning a Public Hearing Request for Fund Balance Carry-Forwards - Stephan Hall, Budget Manager, Management and Budget Services
That the Board authorize the scheduling of a Public Hearing on January 21, 2016, at 5:33 p.m., to amend the Fiscal Year 2015/2016 Budget to include the fund balance carry-forwards.
BACKGROUND:
During the budget process an estimate is made for the amount of unspent monies that will be remaining at the end of the fiscal year. This amount is budgeted as a fund balance estimate. At the close of every fiscal year a reconciliation is made between the estimate of the fund balance, or funds remaining from the previous year and the actual fund balance. The difference is then appropriated into the budget. A public hearing is required to amend the budget in this manner.