A G E N D A COUNTY BOARD, COUNTY OF ... - Kane County, IL

Page 4 of 203, Res. #12-253
m) Budgetary Transfers
It shall be the intent of the County to approve budgetary transfers under the
discretion of the County Board on a case-by-case basis. The department requesting
the budgetary transfer must identify the sources and uses of funds. Budgetary
transfers and-may not make-tr-ansfers between the following line item categories
may only be made if approved by the County Board: personnel to/from nonpersonnel
and capital to/from operating.
n) lnterlund Loans
It shall be the intent of the County to have all interfund loans reported to the
Finance/Budget Committee on a monthly basis. It is not the intent of the County to
charge interest on interfund loans.
o) Budget Overage Policy
Pursuant to state law, the County Board is responsible for establishing the budget
for all County departments and offices.
All department heads and elected officials are required to stay within the budget
appropriated for the fiscal year for his/her department within a specific fund. A
department within a specific fund is represented by the second group of numbers in
the New World System's chart of account (XXX.XXX.X)(X.XXXXX or
fund .department. sub-department. account).
The department head or elected official shall notify the Finance Director as soon as
he/she anticipates that expenditures for the fiscal year will exceed the amount
budgeted by the County Board. In addition, the Finance Director shall review all
budgets by department, on a monthly basis, to determine if expenditures are likely to
exceed the amount budgeted by the County Board by the end of the year. If the
Finance Director makes such determination that expenditures are likely to exceed
the amount budgeted by the County Board, the Finance Director will notify, in
writing, the appropriate department head and/or elected official, along with the
Finance Committee, of the projected expenditures in excess of budgeted amount.
Once it is projected that expenditures are likely to exceed the amount budgeted by
the County Board, the department head or elected official must determine how to
stay within the budget for the fiscal year. The department head or elected official
may request a supplemental budget amount be added to his/her budget. The
department head or elected official may also request a budget transfer between subdepartments
within the same fund as long as money is projected to be available in
another sub-department budget. The Finance Director shall determine, with the
assistance of the department head or elected official, if money is projected to be
available in another sub-department budget.
The department head or elected official shall present the supplemental budget
request and/or the budget transfer request to the Finance Director for informational
purposes. The Finance Director shall assist the department head or elected official
in preparing a supplemental budget request and/or budget transfer for presentation