RECOMMENDATION(S):
APPROVE FY 2022-23 Appropriation and Revenue Adjustment No. BDA-23-00181 appropriating the amount of $6,000,000 from General Purpose Revenue fund balance to Risk Management Insurance for General Liability in the Public Liability Trust Fund.
FISCAL IMPACT:
General Purpose Revenue will be appropriated to Risk Management Insurance and transferred to the Public Liability Trust Fund. (100% General Fund)
BACKGROUND:
On September 20, 2022, the Board of Supervisors adopted final changes to the 2022-2023 County Budget, including changes to obligated fund balances. At that time, an obligated fund balance in the amount of $6,000,000 was restricted for the Public Liability Trust Fund. The current action will appropriate $6,000,000 in Risk Management Insurance, making the funds available to transfer to the Public Liability Trust Fund.
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