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Authorizing FY23 Budget Adjustment and Transfer from the Tax Sale & Error Fund to the General Fund
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WHEREAS, per Illinois Statute 35 ILCS 200/21-330, monies accumulated in the Tax Sale & Error Fund in excess of $500,000 shall be paid to the General Fund.
WHEREAS, the fund balance of the Tax Sale and Error Fund as of November 30, 2022 was $589,247, of which $89,247 is in excess of the $500,000.
NOW, THEREFORE, BE IT RESOLVED that the following FY2023 budget adjustment and corresponding transfer is authorized:
268.150.000.39900 Fund Balance Utilization $89,247
268.150.155.99001 Transfer to General Fund $89,247
001.150.000.39268 Transfer from Fund 268 $89,247
001.150.150.89000 Net Income $89,247
Was Personnel/Item/Service approved in original budget or a subsequent budget revision? Yes
Are funds currently available for this Personnel/Item/Service in the specific line item? Yes
If funds are not currently available in the specified line item, where are the funds available?
Passed by the Kane County Board on November 14, 2023
_________________________ _________________________
John A. Cunningham, MBA, J.D. Corinne M. Pierog MA, MBA
Clerk, County Board Chairman, County Board
Kane County, Illinois Kane County, Illinois
Vote: