AGENDA DATE: May 4, 2016
TITLE: FY17 Resolution of Appropriations
BODY
SUBJECT/PROPOSAL/REQUEST: Approval of the Resolution of Appropriations for the Albemarle County Operating and Capital Budgets for FY17
ITEM TYPE: Action
STAFF CONTACT(S): Foley, Letteri, Davis, and Allshouse, L.
PRESENTER (S): Lori Allshouse
LEGAL REVIEW: Yes
REVIEWED BY: Thomas C. Foley
BACKGROUND: The Board of Supervisors adopted the County’s FY17 Operating and Capital Budgets totaling $375,574,669 on April 13, 2016. The School Board adopted the School Fund and the School Self-Sustaining Fund budgets on April 14, 2016.
To provide the authority from the Board to spend these funds, an Annual Resolution of Appropriations for the fiscal year ending on June 30, 2017 is required. In addition, the Board’s approval of a Resolution of Official Intent to Reimburse Expenditures with Proceeds of a Borrowing is required to provide the County with the authority to use bond proceeds to reimburse capital program expenditures for the specified projects.
STRATEGIC PLAN: Mission: To enhance the well-being and quality of life for all citizens through the provision of the highest level of public service consistent with the prudent use of public funds.
DISCUSSION:
This Executive Summary includes two attachments.
Attachment A: The Annual Resolution of Appropriations: The Annual Resolution of Appropriations is a comprehensive resolution that appropriates the total County budget, including both general government and school operating and capital funds, School Self-Sustaining Funds, and Other General Government Fund appropriations in a single resolution. The Annual Resolution also includes the following:
Budget Amendment: The attached FY17 Annual Resolution of Appropriations includes an amendment to accommodate the School Board’s April 14 adoption of its budget for the School Fund that was for $118,836 more than the School Fund Budget approved by the Board of Supervisors. This net change is due to local, state and federal revenue adjustments and the School Division’s inability to jointly fund a new School Resource Officer position in FY 17 given the School Division’s revenue limitations. This amendment does not exceed one percent of the FY17 total budgeted expenditures and therefore does not require a public hearing.
County Executive Authority: As in previous years, to continue to provide administrative efficiency and effectiveness throughout the year while providing transparency in budgeting, the FY17 Resolution continues to authorize the County Executive to transfer funding from specific Board approved FY 17 non-departmental reserve accounts to the appropriate department accounts for expenditure. For FY 17, these specific reserve accounts are: 1) the General Government’s Training Pool, 2) the Innovation Fund, 3) the Salary Reserve for Reclassifications, 4) the Fuel and Utilities Contingency Reserve, 5) the Priority Driven Budgeting Support Reserve, and 6) the Transformation/Efficiency Reserve. The resolution also continues to authorize the County Executive to administratively approve budget transfers of unencumbered funds for up to $50,000.00 per fund in the fiscal year from one classification, department or project to another within the same general government fund and to allocate the County-wide salary lapse budget between department budgets to appropriately reflect where salary lapse actually occurs.
To further enhance administrative efficiency, this Resolution requests that the Board also authorize the County Executive to administratively transfer funding that is initially estimated and budgeted for specific capital project’s project management services to other projects, when necessary and appropriate, to fully reflect where the project management services are actually performed.
In accordance with current practice, all of these transfers or distributions will be reported to the Board of Supervisors as part of the County’s quarterly financial reports.
Attachment B: Reimbursing Expenditures with Proceeds of a Borrowing: The Resolution of Official Intent to Reimburse Expenditures with Proceeds of a Borrowing allows the County to use up to $26,198,286 in bond proceeds to reimburse capital program expenditures in the FY17 Capital Budget.
RECOMMENDATION:
Recommendation
Staff recommends approval of the Annual Resolution of Appropriations for FY17 (Attachment A) that allocates a total of $375,574,669 to various General Government and School Division operating, capital improvement, and debt service accounts for expenditure in FY17 and provides administrative authority for the transfer of reserve account funding as outlined above.
This appropriation totals $375,574,669 and is made up of the following major funds:
General Fund $257,500,398
General Fund School Reserve Fund 1,367,403
School Fund 172,672,938
School Special Revenue Funds 17,946,303
Other General Government Funds 40,119,320
Capital Projects 48,954,680
Debt Service 21,690,433
SUBTOTAL $560,251,475
Less Inter-fund Transfers ($184,676,806)
TOTAL (new appropriations) $375,574,669
Additionally, in accordance with the funding plan presented in the Capital Budget, staff recommends approval of the attached Resolution of Official Intent to Reimburse Expenditures with Proceeds of a Borrowing (Attachment B) to allow the County to use up to $26,198,286 in bond proceeds to reimburse capital program expenditures.
ATTACHMENTS:
A - Annual Resolution of Appropriations
B - Resolution of Official Intent to Reimburse Expenditures with Proceeds of a Borrowing