Agenda

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ARF- 7409

Regular Agenda Item 4. B.

Special BOS Meeting

Meeting Date:	07/19/2022
Submitted By:	Maryn Belling, Budget Manager
Department:	Finance
Fiscal Year:	2022	Budgeted?:	Yes
Contract Dates Begin & End:	7/1/2021-6/30/2022	Grant?:	Yes
Matching Requirement?:	Yes	Fund?:	Renewal

Information

Request/Subject

Budgetary & Interfund Transfers

Background Information

During the course of routine business, the Finance Department prepares fund transfers. The Finance Department shall bring forth each year the transfers for the Board's review, discussion, and approval to remain compliant with A.R.S. § 42-17106.

A.R.S. § 42-17106. Expenditures limited to budgeted purposes; transfer of monies. A. Except as provided in subsection B, a county, city or town shall not: 1. Spend money for a purpose that is not included in its budget. 2. Spend money or incur or create a debt, obligation, or liability in a fiscal year in excess of the amount stated for each purpose in the final adopted budget for that year, except as provided by law, revenue in excess of that amount required to meet expenditures, debts, obligations, and liabilities that are incurred under the budget. B. A governing body may transfer monies between budget items if all of the following apply: 1. The monies are available. 2. The transfer is in the public interest and based on a demonstrated need. 3. The transfer does not result in a violation of the limitations prescribed in article IX, sections 19 and 20, Constitution of Arizona. 4. A majority of the members of the governing body votes affirmatively on the transfer at a public meeting.

Evaluation

A.R.S. § 42-17106 requires the Board of Supervisors, by majority vote, to approve the budgeted and unbudgeted funds transfers at a public meeting.

Conclusion

In order to be compliant with A.R.S. § 42-17106, the Finance Department requests the Board approve the inter-fund & budgeted transfers for the fiscal year 2022.

Recommendation

Staff recommends approval.

Suggested Motion

Authorization to prepare FY2022 budgeted and inter-fund transfers. (Maryn Belling)

Attachments
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