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EMERGENCY APPROPRIATION FOR TRANSFER OF FUNDS FROM JJC/AJC REFUNDING DEBT SERVICE FUND #623 TO THE GENERAL FUND - GENERAL ACCOUNT #001
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WHEREAS, Fund #623 - the JJC/AJC Refunding Debt Service Fund, was created as a debt service fund by Resolution #13-121 to account for the debt service of the Series 2013 Bonds; and
WHEREAS, Resolution 21-416 authorized the refunding of the Series 2013 Bonds with the Series 2021 General Obligation Refunding Bonds which were funded by State income tax revenues deposited into the County's General Fund - General Account #001; and
WHEREAS, in FY2025, the County paid off the Series 2021 General Obligation Refunding Bonds and $440,925.75 of monies originally transferred from the General Fund - General Account #001 remains in Fund #623 and is not needed to pay further debt service.
NOW, THEREFORE, BE IT RESOLVED by the Kane County Board that $440,925.75 be transferred from Fund #623 - the JJC/AJC Refunding Debt Service Fund to Fund #001 - General Fund - General Account, that the appropriation adjustments and related cash transfers listed below be made to the FY2025 budget, and that Fund #623 be closed as of October 14, 2025.
Amount Description Account Number
$440,925.75 Transfer from Fund 623 001.000.000.39623
($440,925.75) Fund Balance Utilization 001.000.000.39900
$440,925.75 Transfer to Gen. Fund - Gen. Acct 623.760.767.99001
$440,925.75 Fund Balance Utilization 623.760.000.39900
Was Personnel/Item/Service approved in original budget or a subsequent budget revision? N/A
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? N/A
Passed by the Kane County Board on October 14, 2025.
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