AG 2017 11 20 - Laserfiche WebLink

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Narrative: On 11-16-15 the BOC approved Matching Grant Funds in the amount of$59,329 for the Carolina Thread Trail Project. The Matching Funds available at 6-30-16 in the General Fund was$118,658 (00198140- 9831-0154). However, no Budget Amendment was prepared prior to 6-30-16 to follow the BOC approval. Therefore, the funds dropped into Fund Balance. As part of the FY17 CIP budget, $50,000 was allocated for Carolina Thread Trail land purchase. The $50,000 was recorded in account 34398140-9801-CTT(Land Acquisition) on 6-28-16. During April 2017, Londa had a need to encumber the funds for the Benchmark Trails contract in the amount of$59,329. It was then determined that the project had only been funded $50,000. Thinking that the whole project should have a total budget of$59,329, a budget amendment was prepared to increase account 34398140-9801-CTT by$9,329. The funds came from available funds in the Construction and Renovation Multi-Year Fund (Fund 343). On 5-22-17 a budget amendment was prepared to move the$59,329 from account number 34398140- 9801-CTT(Land Acquisition) into 34398140-971041-CTT(Contribution to Carolina Thread Trail). On 5- 23-17 a $59,329 Contract to Benchmark Trails for$59,329 was encumbered to this account. 10-25-17 - It has been determined that the Carolina Thread Trail Project should have a $50,000 budget for future land purchases and should have the$59,329 encumbrance for the Benchmark Trails contract. Since the County covered the additional $9,329 for the Benchmark Trails contract, there is only a need to fund the$50,000 to cover the Carolina Thread Trail land purchase. Attachment number 1 \n F-6 Page 172