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Public Mass Transit Fund—Interfund cash advance in an amount of$1,000,000 may be necessary <br /> should State IDOT and Federal operating grant funding not be received before December 31,2023. <br /> City Treasurer will affect interfund cash advances in such amount as is necessary to secure positive <br /> cash positions, in any and all funds affected. <br /> As passed by the Library Board, to transfer for capital use, from the Library Operating Fund into <br /> the Library Capital Fund an additional $200,000 to the$200,000 already budgeted in FY2023 for a <br /> total of$400,000. <br /> Interfund cash advance(s)will be repaid in full in 2024 at the beginning of the fiscal 2024 year, or <br /> at such time that the Fund(s) have sufficient monies to repay the interfund cash advance. <br /> POTENTIAL OBJECTION: <br /> There are no known objections. <br /> INPUT FROM OTHER SOURCES: <br /> No input from other sources. <br /> STAFF REFERENCES: <br /> Ruby F. James, City Treasurer& Chief Financial Officer <br /> Anthony Cooling, Budget and Revenue Officer <br /> BUDGET/TIME IMPLICATIONS: <br /> None. <br /> Page 2 of 2 <br />