Title
Resolution authorizing the Chief Financial Officer (CFO) to transfer funds from the Fire District General Fund to the Fire District Special Equipment Fund.
Body
Recommended Action: Adopt the resolution.
K.S.A 19-3612c permits the transfer of funds from the Fire District General Fund to the Fire District Special Equipment Fund prior to the end of the fiscal year for the acquisition of fire-fighting equipment. The transfer can be performed annually, by resolution, if sufficient funds and budget authority exists in the Fire District General Fund. According to the laws of the State of Kansas, any unexpended budget authority remaining at the end of the year within the Fire District General Fund will lapse and expenditures can only be posted against the subsequent year's budget.
Alternatives: Do not grant the authority to transfer the funds and the funds will remain in the Fire District General Fund.
Financial Considerations: None.
Legal Considerations: The authority for this action is K.S.A. 19-3612c. A simple majority vote is required.
Policy Considerations: The policy of transferring spending authority to the Fire District Special Equipment Fund creates the ability to offset expected and/or unexpected expenditures in future years without impacting the current year's operating budget and to address equipment purchases in the current year that may not be received from the vendor prior to year-end. The transfer is allowed under K.S.A. 19-3612c.
Outside Attendees: N/A
Multimedia Presentation: N/A