Title
Year-end Transfer from the Auto License Fund to the General Fund.
Body
Recommended Action: Approve the transfer as requested.
Pursuant to K.S.A. 8-145, the County Treasurer is responsible for the collection of motor vehicle taxes and the issuance of vehicle licenses, as funded through the Auto License Fund (213). As a result of these functions, the County Treasurer receives a fee for each transaction to support operational expenditures. The Auto License Fund is not subject to the County minimum fund balance policy, but net operating incomes must be transferred into the General Fund at year-end, as outlined in K.S.A. 8-145.
The amount of the 2017 year-end transfer is $434,228.28.
Alternatives: N/A
Financial Considerations: $434,228.28 will be transferred from the Auto License Fund, 76005-213, to the County General Fund, 70001-110. The activity will be reflected on the 2017 books.
Legal Considerations: K.S.A. 8-145 requires this transfer.
Policy Considerations: N/A