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F.-2. <br />CABARRUS COUNTY <br />BOARD OF COMMISSIONERt,REGULAR MEETINGOctober 15, 20186:30 PM <br />AGENDA CATEGORY: <br />Consent Agenda <br />SUBJECT: <br />Finance—Appropriate Fund Balance for Landfill Fund— Purchased Services <br />BRIEF SUMMARY: <br />The Landfill receives materials that are able to be ground into mulch. The Landfill pays an <br />outside vendor to perform this service. The Landfill in turn sells the mulch to customers. In <br />prior fiscal years, a liability account has been used for these transactions. After a discussion <br />with the auditors, funds received from the sale of the mulch should be accounted for in a <br />revenue account and a corresponding expense account should be used to pay outside <br />vendors to grind the materials into mulch. <br />At June 30, 2018, the balance in the liability account was $36,574.50. This amount was <br />moved to a revenue account and therefore is reflected in fund balance for the Landfill Fund <br />for final June 30, 2018 reporting. In order to use these funds for FY 2019 operations, an <br />appropriation of Fund Balance is needed. <br />REQUESTED ACTION: <br />Motion to approve the attached Budget Amendment to appropriate fund balance and budget <br />expenses for purchased services. <br />EXPECTED LENGTH OF PRESENTATION: <br />SUBMITTED BY: <br />Susan Fearrington, Finance Director <br />Page 92 <br />