Supervisor ARGOTSINGER offered the following Resolution and moved its adoption:

RESOLUTION APPROPRIATING MONIES TO CAPITAL RESERVES

WHEREAS, Resolution No. 175 of 2001 established Capital Reserve Accounts in which to deposit monies from National Tobacco Settlement proceeds and/or County monies from other sources that would facilitate capital improvements or the purchase of capital equipment; and

WHEREAS, 2019 Tobacco Settlement Proceeds for Fulton County totaled $745,542.00; and

WHEREAS, the Committee on Finance recommends appropriating the 2019 proceeds specified herein in accordance with said Capital Plan funding policy; $1,000.00 allocated in the 2020 Adopted Budget to the Youth Bureau Program and the balance allocated to the Capital Reserves; now, therefore be it

RESOLVED, That the 2019 Adopted Budget be and hereby is amended, as follows:

                  Decrease A.1000.0599-0599-REV-Appropriated Fund Balance        $745,542.00

                  Revenue Account:
                  Increase A.1000.2690-2690-REV-Other Compensation for Loss      $745,542.00

and, be it further

RESOLVED, That the County Treasurer be and hereby is directed to make the following transfer:

From:    A-0909-Unreserved Fund Balance
To:         A-0883-0800 - Capital Improvements Reserve
Sum:     $745,542.00

and, be it further

RESOLVED, That certified copies of this Resolution be forwarded to the County Treasurer, Budget Director/County Auditor and Administrative Officer/Clerk of the Board.

Seconded by Supervisor CALLERY and adopted by the following vote:
Total: Ayes: 19 Nays: 0 Absent: 1 (Supervisor Howard)

 

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