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 Kenai Peninsula Borough
 Code of Ordinances
 Title 5. REVENUE AND FINANCE
 Chapter 5.04. BUDGET PROCEDURE AND FISCAL YEAR

  § 5.04.100. Transfer of funds—Authority of mayor, assembly and clerk.  

Latest version.

  • A.

    The assembly may, by resolution, transfer unencumbered balances at the budgetary control level.

    B.

    The borough mayor may transfer unencumbered budget balances between major budget classifications. The mayor may also transfer surplus balances from completed capital improvement projects to other projects previously authorized by the borough assembly where costs are expected to exceed the available appropriations subject to the following limitations:

    1.

    Capital transfers may only be made between projects within the same funds and the same funding sources.

    2.

    Capital transfers may only be made to or from projects with original budgets less than $1 million.

    3.

    Capital transfers may not increase a project budget by more than 5 percent, but in no case more than $25,000.

    4.

    Capital transfers may not be used to expand the scope of a project beyond that previously approved by the assembly.

    5.

    Capital transfers that exceed these limitations shall be approved by assembly resolution.

    Such transfers shall be reported monthly to the assembly.

    C.

    Department heads may transfer unencumbered budget balances within major budget classifications.

    D.

    The assembly, by resolution or motion, may transfer unencumbered balances between line items within the assembly's administration budget. The resolution or minutes of the assembly meeting recording such transfer shall be certified by the borough clerk and made a part of the assembly's budget document.

    E.

    Except for the assembly administration division, the borough clerk, with the approval of the assembly president, may transfer unencumbered balances between line items within those budget divisions administered by the clerk. Such transfer shall be reported to the finance committee at the next regular or special meeting of the assembly.

(Ord. No. 2006-32, § 3, 8-15-06; Ord. No. 2000-40, § 1, 10-10-00; Ord. No. 98-31, §§ 1, 2, 8-18-98; Ord. No. 91-52, § 1, 1991; Ord. No. 79-15, § 1, 1979; Ord. No. 74-52, § 1(part), 1974; KPC § 12.05.015)