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AI- 3405   12. B. 4.    
BOC Regular
Meeting Date: 12/17/2020  
Final 2020 Budget Amendments
Submitted For: Megan Banning FROM: Megan Banning, Finance
Department: Finance  

Resolved, the Calhoun County Board of Commissioners does hereby approve the FY 2020 Final Budget adjustments for the General Fund and several Special Revenue funds as presented.
It is respectfully recommended that the Board of Commissioners approve the 2020 Final Budget Amendments as submitted by the Finance Department.
County policy no. 275 states that budget adjustments greater than $20,000 require Board of Commissioner approval.

The Office of the County Administrator/Controller-Finance Department has reviewed all budgetary funds and received input from elected officials and department heads to determine necessary budgetary adjustments based on final projected balances for revenues and expenditures for 2020. The attached budget amendment includes certain General Fund business units (Public Safety, Administration, Community Development, Appropriations, Due Process, Prosecuting Attorney, Treasurer, Water Resources, and Contingency) and several Special Revenue Funds (Retirement Trust, Public Safety Information Alliance, Veteran's Services, Road Department, Parks and Remonumentation).

The net effect of this budget amendment is that all expected expenditure shortages are offset by available revenues in excess of budget, unspent budgeted expenditures, including the contingency line item.  At this time the use of  General Fund balance is not anticipated.
The Board of Commissioners could choose to not approve these budget adjustments. That alternative is not recommended, as it would result in fund level budget variances that would create an unclear picture of the County's financial status as a whole.  Such Budget variances are also required to be shown and explained in the County's Comprehensive Annual Financial Report (CAFR).
In order to present the Comparative Financial Statements (Actual VS Budget) at the fund/activity level properly in the 2020 audited financial statements, the Finance Department requests approval of the attached budget adjustments.

Fiscal Impact
All adjustments are covered by anticipated expenditure savings or increased revenues, no use of general fund balance is budgeted.
2020 YE Budget Adjustment

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