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File #: 23-0919    Version: 1 Name:
Type: Discussion Items Status: Passed
File created: 9/27/2023 In control: County Council
On agenda: 10/3/2023 Final action: 10/3/2023
Title: Budget Adjustment: The District Attorney's Office requests a technical adjustment to move funding for a leased folding machine from an operating account to debt service accounts to satisfy the Governmental Accounting Standards Board Statement No. 87 accounting requirements.
Attachments: 1. Staff Report, 2. 29617 - Capital Lease- GASB 87- Folding Machine, 3. 29617 - Les Olson Formax Inserter lease agreement - FULLY executed

Requested Agenda Date:

10/3/2023

 

Requested Agenda Title:

Title

Budget Adjustment: The District Attorney’s Office requests a technical adjustment to move funding for a leased folding machine from an operating account to debt service accounts to satisfy the Governmental Accounting Standards Board Statement No. 87 accounting requirements.

Body

 

Requested Agenda Item Description: The District Attorney's Office has entered into a 5-year lease agreement with Les Olson Company for a folding machine. This lease falls under GASB 87 requirements for reporting. This request is to move $5,358 from operations account 633015 to debt service accounts 684015 and 687002. This adjustment also includes a future year adjustment of an additional $7,502 from 633015 to 687015 and 687002.

 

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: Sim Gill, District Attorney

 

Are Supporting Documents Needed for this Agenda Item Request? Yes