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Authorizing an Adjustment to the 2024 Annual Appropriation to Transfer $1,874,979.00 in Interest Earned from the American Rescue Plan (ARPA) Fund #355 to the General Fund #001
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WHEREAS, on November 21, 2023, the County Board approved the 2024 Annual Appropriation for the fiscal year December 1, 2023 to November 30, 2024”; and
WHEREAS, at the November 21, 2023 County Board meeting, the County Board made a motion to amend the Appropriation at a later date for the purpose of transferring $1,874,979.00 in American Rescue Plan (ARPA) interest earned from the ARPA Fund to the General Fund, and
WHEREAS, as a result of the transfer of $1,874,979.00 in interest earned into the General Fund, the Fund Balance Utilization will decrease from $11,551,529 to $9,676,550.
NOW, THEREFORE, BE IT RESOLVED by the Kane County Board that the FY 2024 Annual Appropriation be amended as follows:
355.800.000.39900 Fund Balance Utilization $1,874,979
355.800.668.99001 Transfer to Fund 001 $1,874,979
001.000.000.39900 Fund Balance Utilization ($1,874,979)
001.000.000.39355 Transfer from Fund 355 $1,874,979
Passed by the Kane County Board on December 12, 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: