Item Text

47. TRANSFER TO GENERAL FUND COUNTY IMPROVEMENT FUND Authorize and approve a fund transfer not-to-exceed $139,700,000 from General Fund (100) to the General Fund County Improvement Fund (445) for reserves for future capital projects. Per A.R.S. 42-17106(B), approve the following budget adjustments: 1. Increase the FY 2012 Non Departmental (470) General Fund County Improvement Fund (445) Operating (0000) revenue by an amount not-to-exceed $38,700,000. 2. Increase the fund transfer out line of Non Departmental (470) General Fund (100) Operating (0000) by an amount not-to-exceed $38,700,000. 3. Adjust revenue and expenditure to offset the amount of the transfer, not more than -$38,700,000, in Eliminations (980) Eliminations Fund (900) Operating (0000). 4. Offset the increase in expenditure authority by increasing Non Departmental (470) Grant Fund (249) Operating (0000) expenditure authority by an amount not-to-exceed $38,700,000. 5. Increase the FY 2012 Non Departmental (470) General Fund County Improvement Fund (445) Non Recurring Non Project (0001) revenue by an amount not-to-exceed $101,000,000. 6. Increase the fund transfer out line of Non Departmental (470) General Fund (100) Non Recurring Non Project (0001) in an amount not-to-exceed $101,000,000. 7. Adjust revenue and expenditure to offset the amount of the transfer, not more than -$101,000,000, in Eliminations (980) Eliminations Fund (900) Non Recurring Non Project (0001). 8. Offset the increase in expenditure authority by increasing Non Departmental (470) Grant Fund (249) Non Recurring Non Project (0001) expenditure authority by $101,000,000. The net financial impact to the County is zero. This transfer will provide resources for reserves for future capital projects funded on a Pay-As-You-Go basis. (C-49-12-056-2-00)