Executive/Council Action Form (ECAF)
ITEM TITLE:
Title
Motion 23-528, approving an Interfund Loan from the General Fund 002 to the Special Revenue Fund, PEG Subfund, to provide interim funding for the Snohomish County Public and Educational Capital
body
DEPARTMENT: Finance
ORIGINATOR: Teresa Levine
EXECUTIVE RECOMMENDATION: Approved by Ken Klein 11/29/23
PURPOSE: Approval of Interfund Loan from GF 002 to Special Revenue Fund 100, SubFund 23 in Dept 14
BACKGROUND: An interfund loan is needed for a 36 month term from GF 002 to Special Revenue Fund 100, PEG SubFund 23 for the Dept of IT to begin the capital acquisition for the Snohomish County TV capital project. Ordinance 22-026 passed on 7/13/22 approved the cable franchise agreement for collection of the fees to support the programming.
FISCAL IMPLICATIONS:
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EXPEND: FUND, AGY, ORG, ACTY, OBJ, AU |
CURRENT YR |
2ND YR |
1ST 6 YRS |
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See note below |
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TOTAL |
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$415,000 |
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REVENUE: FUND, AGY, ORG, REV, SOURCE |
CURRENT YR |
2ND YR |
1ST 6 YRS |
|
See note below |
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|
|
|
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|
|
|
|
|
|
|
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TOTAL |
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$415,000 |
DEPARTMENT FISCAL IMPACT NOTES: The recording of this interfund loan is a balance sheet entry via JV and will not impact Rev or Exp DACs. The asset and liability DACs impacted are 002-1163100 Due From Other Funds and 100-2232501 Due to other funds
CONTRACT INFORMATION:
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ORIGINAL |
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CONTRACT# |
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AMOUNT |
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AMENDMENT |
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CONTRACT# |
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AMOUNT |
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Contract Period
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ORIGINAL |
START |
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END |
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AMENDMENT |
START |
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END |
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OTHER DEPARTMENTAL REVIEW/COMMENTS: Reviewed/approved by Finance - Nathan Kennedy 11/27/23