ITEM TITLE:
#19-43 - Amending the 2019 Budget by Accepting Unbudgeted Revenues of $19,425.08 and Transferring Same to Reserve Fund to Establish the Police Scholarship Account
SUBMITTED BY: Brian Carlson, Finance Director
FISCAL NOTES:
Expenditure Required: $19,425.08
Unencumbered Balance: $19,425.08
Funding Source: Police Forfeiture Revenue, 001.0000.34217
RECOMMENDATION:
Approve
SUMMARY STATEMENT:
• This resolution accepts $19K in unbudgeted police forfeiture revenues, which have accumulated over several years.
• Staff proposes the establishment of a reserve account to hold any future forfeited funds, and for continued funding of the existing police scholarship program.
• Police Chief will be present to field questions about the source of funds and the scholarship program.
• Attachment: 2019 Budget Police Forfeiture and Scholarship