Subject:
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Consider a reallocation and transfer of funds to the Sanitation Enterprise Fund in the total amount of $2,914,113.50
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Presented By: City Staff
Recommendation and Review
In the fiscal year 2015 budget, refuse collection, recycling and landfill activities were recategorized back into the Sanitation Enterprise Fund. $2.7 million of this transfer are funds that are in a reserve account in the General Fund to fund the city’s share of landfill closure costs pursuant to the Rockingham County landfill agreement. The $216,148.50 are funds in the General Capital Projects fund for closure costs related to the city’s closed landfill.
This transfer will move these funds into appropriate Sanitation Enterprise Fund accounts to reflect the above mentioned recategorization and the corresponding landfill closure liabilities will now also be recorded in the Sanitation Enterprise Fund. With this transfer, all sanitation activities are now accounted for in the Sanitation Fund.