HomeMy WebLinkAboutAgenda Statement 1973/08/07 Item 18AGENDA ITEM NOa [18]
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CHULA VISTA CITY COUNCIL MEETING OF: August 7, 1973
ITEM TITLE: Resolution - Transfer of Funds - Cash Basis to General~,Fund
INITIATED BY: Director of Finance
BACKGROUND:
Section 1112 of the City Charter authorizes the City Council to m ke
transfer of the Cash Basis Fund from time to time as the need ari es to
finance the operation of the City. The most critical period of n ed is from
July 1 to December 31 each year. This being the time when ad val rem
property taxes are collected by the County and not remitted to th City
until late in December.
The request is to transfer the amount of $241,250 in the Cash Bas s Fund
to the General Fund. This amount must be returned by June 30, 19 4.
ATTACHED: Resolution [X] Ordinance [ ] Agreement [ ]
See EXHIBITS
Financial Statement: N/A
Commission-Board Recommendation: N/A
Department Head Recommendation: Approval
City Manager Recommendation: Recommend approval
Plat [ ]
[x] No ~ 1
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