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Budget Resolution Transferring Funds From Hernando County Fire and Emergency Services EMS Fund to Hernando County Fire and Emergency Services Fire Rescue Fund for Reimbursement of Debt Service for Fire Station No. 5
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BRIEF OVERVIEW
In 2022, a line of credit was issued to Hernando County Fire and Emergency Services for the construction of Fire Station No. 5. The budget for the debt service shows the split between fund 1661 (Fire) and 1691 (EMS); however, the debt service was only expensed from fund 1661 (Fire). The attached budget resolution will reimburse Fire for its 40% portion. This is strictly housekeeping for the budget.
FINANCIAL IMPACT
Funds will be deducted from Account No. 1691-02491-5916610 (Transfer to HCFR Fire). Revenue is recognized in Account No. 1661-3811691 to cover the 40% portion.
LEGAL NOTE
The Board has the authority to take the recommended action on this item pursuant to Chapter 125, Florida Statutes.
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RECOMMENDATION
It is recommended that the Board approve and authorize the Chairman’s signature on the attached budget resolution to transfer the funds to cover the debt service for Fire Station No. 5.