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be in force at the earliest period allowed by law, authorizing the transfer and advance of certain <br /> funds. (I" read and referred to Finance Committee 11115121; 2"d reading 1216121) <br /> Director Rancatore explained that accounting principles prohibit any fund from having a negative <br /> balance and therefore,throughout the year,funds are transferred from the General Fund to support <br /> certain funds and maintain fund balances. The Finance Department budgets a quarterly amount to <br /> be transferred each quarter, however in Q4, they sometimes have to deviate from the budgeted <br /> amounts <br /> It was clarified that Ord. 39-2021 pertains to Q4 transfers. <br /> A motion was made and seconded to recommend Ordinance 39-2021 for adoption. All members <br /> voted in favor. Motion passed. Ordinance 39-2021 recommended for adoption. <br /> Finance Committee adjourned at 8:38 p.m. <br /> 8 <br />