RESOLUTION 2003-117

A RESOLUTION AUTHORIZING THE TRANSFER OF $10,360.77 FROM FUEL & LUBRICATION ACCOUNT TO ELECTRIC POWER ACCOUNT FY 2002/2003 BUDGET

WHEREAS, the Public Works Department tracks and pays many Commonwealth Edison bills for the Village; and

WHEREAS, the Village has slowly been adding new service accounts; and

WHEREAS, $77,000 was budgeted for this service and the final account expenditure was $87,360.77; and

WHEREAS, with the increase in service accounts and increase of day-to-day service rates charged by Commonwealth Edison it is very difficult to budget the cost of electric usage; and

WHEREAS, funds are needed in the electric account to cover the overage of electric service used in 2002/2003 budget year; and

WHEREAS, funds were not used in the Fuel & Lubrication account in 2002/2003 budget year.

NOW THEREFORE BE IT RESOLVED BY THE PRESIDENT AND BOARD OF TRUSTEES OF THE VILLAGE OF VERNON HILLS, LAKE COUNTY, ILLINOIS: THAT, the Finance Director is directed to transfer $10,360.77 from Fuel & Lubrication account (0102040-530140) to Electric Power account (0102040-520050).

Dated the 15^th of July 2003

Adopted by roll call votes as follows:

AYES:

NAYS:

ABSENT AND NOT VOTING:

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Village President

PASSED:

APPROVED:

ATTEST:

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Village Clerk