Budget Adjustment for funds received from City of Anna in connection with Bond Project 07-00-57
Submitted For:
Clarence Daugherty
Submitted By:
Dawn Redwine
Department:
Engineering
Request Type:
CONSENT
Agenda Area:
Budget Adj/Amend
Information
Department Action
In 2016, Commissioners Court approved an ILA with the City of Anna to loan funding for utility relocations along US 75 from The Collin County Outer Loop to FM 455 not to exceed $2,000,000.
The ILA stipulates that once the city received reimbursement from TxDOT, the money would come back to the county.
In July 2022 the City of Anna reimbursed the County in the amount of $1,120,000, however TxDOT has refunded the city $1,435,645.43. Therefore, the City owed the remaining $315,645.43 to the County.
The funds were received by the County Treasury and deposited into the revenue account for the respective project code. The requested BA will move the funds from a revenue account to an expenditure account within the project code they were originally paid out of.
Bond project 07-00-57 is complete and funds are no longer needed. Therefore, an additional BA is requested to move the funds received from Anna ($315,645.43) from the expenditure account into an 07 Discretionary account.
Action Requested: It is requested that Commissioners Court authorize the budget adjustment of moving $315,645.43 FROM4213-75030-0013-68-00-0000-432005 TO RI070057-4213-750300013-809682 and
$315,645.43 RI070057-4213-750300013-809682 TO RI070000-4213-750300013-698801
Purchasing Department Action
No action by Purchasing.
HR and/or IT Action
Budget Department Action
Budget Amendment in the amount of $315,645.43 to budget the revenues received back from the City of Anna and move those funds into a 2007 discretionary account for future allocation. See attached Budget Amendment for details. 2007 Bond Fund (4213).
Auditor's Office Action
Bond funds available. Budget amendment will processed upon approval.
Commissioners Court
$315,645.43 to reallocate returned and unused funds to the 2007 Discretionary Account for future allocation, Engineering.