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Approving FY25 Transfer of Appropriation and Budget Adjustment for Fund #558 North Impact Fees, Fund #559 Central Impact Fees, Fund #560 South Impact Fees, and Fund #300 County Highway
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WHEREAS, the County is permitted to transfer up to 5% of impact fees collected to cover administrative costs of the Impact Fee Program per Kane County Road Improvement Impact Fee Ordinance No. 22-27; and
WHEREAS, the FY25 budget for Fund #558, Fund #559, and Fund #560 requires a transfer between account classifications and related budget adjustments to transfer these funds; and
WHEREAS, this transfer and budget adjustment does not increase the total expenditure appropriation for Fund #558, Fund #559, or Fund #560; and
WHEREAS, this budget adjustment will reduce the County Highway fund balance utilization.
NOW, THERFORE, BE IT RESOLVED by the Kane County Board that the following transfers of appropriation and budget adjustments to the FY25 budget be made:
|
Account Number |
Description |
Amount |
|
558.520.558.89000 |
Addition to Fund Balance |
-$72,846.01 |
|
558.520.558.99300 |
Transfer to County Highway |
+$72,846.01 |
|
559.520.559.50140 |
Engineering Services |
-$22,474.83 |
|
559.520.559.99300 |
Transfer to County Highway |
+$22,474.83 |
|
560.520.560.89000 |
Addition to Fund Balance |
-$28,365.16 |
|
560.520.560.99300 |
Transfer to County Highway |
+$28,365.16 |
|
300.520.000.39558 |
Transfer from North Impact Fees Fund 558 |
+$72,846.01 |
|
300.520.000.39559 |
Transfer from Central Impact Fees Fund 559 |
+$22,474.83 |
|
300.520.000.39560 |
Transfer from South Impact Fees Fund 560 |
+$28,365.16 |
|
300.520.000.39900 |
Fund Balance Utilization |
-$123,686.00 |
Passed by the Kane County Board on December 9, 2025.
____________________________ ____________________________
John A. Cunningham, MBA, JD, JD Corinne M. Pierog MA, MBA
Clerk, County Board Chairman, County Board
Kane County, Illinois Kane County, Illinois
Vote: