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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, 2023 was $583,547.79, of which $87,978.54 is in excess of the $500,000.
NOW, THEREFORE, BE IT RESOLVED by the Kane County Board that the following FY2023 budget adjustment and corresponding transfer is authorized:
268.150.000.39900 Fund Balance Utilization $87,978.54
268.150.155.99001 Transfer to General Fund $87,978.54
001.150.000.39268 Transfer from Fund 268 $87,978.54
001.150.150.89000 Net Income $87,978.54
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 January 9, 2024.
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John A. Cunningham, MBA, JD, JD Corinne M. Pierog MA, MBA
Clerk, County Board Chairman, County Board
Kane County, Illinois Kane County, Illinois
Vote: