Title
Consider recommendation from the Finance/Administrative Committee to amend the 2023 EAA Operating Budget by increasing the General Fund appropriation by $25,000.
Body
RECOMMENDED MOTION:
Move the board amend the 2023 EAA Operating Budget by increasing the General Fund appropriation for Capital Assets by $25,000.
SUMMARY:
The purpose of this agenda item is for the board to consider a Finance/Administrative Committee recommendation to amend the 2023 EAA Operating Budget by increasing the appropriation for the General Fund by a total of $25,000. This amendment is to provide the remaining funds necessary to complete the replacement of the septic system at the EAA Field Research Park. The replacement of the septic system, initially funded and started in 2022, was unable to be completed before the end of 2022 due to the completion of permit application requirements.
The attached spreadsheet summarizes the proposed amendment discussed above.
At the meeting on March 28, the Finance/Administrative Committee voted to approve the recommended motion above.
STRATEGIC PLAN REFERENCE:
This agenda item supports the general EAA mission.
FISCAL IMPACT:
This proposed amendment would increase the 2023 Operating Budget by $25,000 and reduce the operating reserves in General Fund by the same amount. Since this amendment is a re-appropriation of funds originally estimated but not spent in 2022, there is essentially no fiscal impact to the reserve balance.