HomeMy WebLinkAbout5C1 Debt Service Correction Memo
Redevelopment Commission Agenda Item
DATE: 12/9/21
FROM: Amanda Pietsch, Director of Finance - DCI
SUBJECT: Debt Service Administrative Correction
Funding Source* (circle one) River West; River East; South Side; Douglas Road; West Washington; RDC General
*Funds are subject to the City Controller's determination of availability; if funds are unavailable, as solely determined by the City Controller,
then the authorization of the expenditure of such funds shall be void and of no effect.
Purpose of Request:
Requesting budget of $11.00 in Fund 353 to correct an administrative error related to the Library
Bonds debt service reserve. There was an overage of $11.00 in the debt service reserve, and per
the trust indenture, the trustee bank was required to transfer the overage to the bond account
in Fund 324. This request corrects the accounting between Funds.
INTERNAL USE ONLY: Project ID: PROJ ;
Total Amount – New Project Budget Appropriation $_______________;
Total Amount – Existing Project Budget Change (increase or decrease) $_______________;
Funding Limits: Engineering: $_____________________; Other Prof Serv Amt $_______________;
Acquisition of Land/Bldg (circle one) Amt: $___________; Street Const Amt $________________;
Building Imp Amt $_________; Sewers Amt $_________; Other (specify) Amt $ ________________
_________________________Pres/V-Pres
ATTEST: __________________Secretary
Date: ____________________
APPROVED Not Approved
SOUTH BEND REDEVELOPMENT COMMISSION