WHEREAS, between the period of 1998 and 2005, the Capital Project Funds saw spending in excess of authorized borrowing in the amount of $697,141.22; and
WHEREAS, in order to make the Capital Projects Fund whole for expenses that should have been paid by the General Fund, the Town had proposed to transfer monies from the General Fund to the Capital Projects Fund over the 2016 through 2019 fiscal years; and
WHEREAS, to begin implementing this plan, the Town transferred $250,000.00 from the General Fund in 2016 and $200,000.00 from the General Fund in 2017 to the Capital Projects Fund (the “Previous Interfund Transfers”); and
WHEREAS, the Town has determined that fiscal year 2017 ended in a more financially advantageous position than had been originally expected, allowing the amount planned to be transferred in 2018 and 2019 to be transferred in 2017; and
WHEREAS, the Town Board wishes to authorize an interfund transfer in 2017 in the amount of $247,141.22 from the General Fund to the Capital Projects Fund (the “Final Interfund Transfer”).
NOW, THEREFORE BE IT
RESOLVED that the Final Interfund Transfer be and hereby is authorized; and be it further
RESOLVED that the Comptroller be and hereby is directed to take such action as may be necessary to effectuate the foregoing.
Dated: Manhasset, New York
January 30, 2018
The vote on the foregoing resolution was recorded as follows:
Ayes: Councilperson De Giorgio, Councilperson Ferrara, Councilperson Kaplan, Councilperson Russell, Councilperson Seeman, Councilperson Zuckerman, Supervisor Bosworth
cc: Town Attorney Comptroller