Requested Agenda Date:
3/14/2023
Requested Agenda Title:
Title
Budget Adjustment: This budget adjustment is to transfer $220,473.34 of replacement funds in the Fleet Fund related to Equestrian Park equipment to the TRCC fund since it subsidized Equestrian Park equipment purchases, capital improvements, and operations in the past and because it will continue to fund the reduced subsidy for the Equestrian Park in 2023.
Body
Requested Agenda Item Description: The Equestrian Park was sold to USU in 2022 and the sale included all equipment. There is $220,473.34 of replacement funds in the Fleet Fund related to Equestrian Park equipment. This budget adjustment is to transfer those funds to the TRCC fund since it subsidized Equestrian Park equipment purchases, capital improvements, and operations in the past and because it will continue to fund the reduced subsidy for the Equestrian Park in 2023 ($3.5M max 5-year subsidy).
Rather than returning it to the Equestrian Park Fund and then returning it to the TRCC fund, this transfers it back to the TRCC fund directly.
Requested Action: Discussion - Vote Needed
Presenter(s) (with titles): Hoa Nguyen, Council Budget and Policy Analyst
Time Needed: Less than 5 MINS
Is this Item Time-Sensitive and/or Requesting a Time-Certain? No
Requesting Staff Member: Hoa Nguyen, Council Budget and Policy Analyst
Are Supporting Documents Needed for this Agenda Item Request? Yes