AGENDA DATE: 6/1/2016
TITLE:
Title
Resolution to Appropriate FY 17 On-going Funding of Multi-Year Capital Projects.
BODY
SUBJECT/PROPOSAL/REQUEST: Approval of Budget Amendment and Appropriation #2017001
ITEM TYPE: Regular Action Item
STAFF CONTACT(S): Foley, Letteri, Kamptner, Allshouse, and Burrell
PRESENTER (S): Lori Allshouse
LEGAL REVIEW: Yes
REVIEWED BY: Thomas C. Foley
BACKGROUND: The County's Special Revenue and Capital Project Budgets most often affect multiple fiscal years, thus requiring a re-appropriation of the remaining funds from one fiscal year to the succeeding fiscal year.
Virginia Code ? 15.2-2507 provides that any locality may amend its budget to adjust the aggregate amount to be appropriated during the fiscal year as shown in the currently adopted budget; provided, however, any such amendment which exceeds one percent of the total expenditures shown in the currently adopted budget must be accomplished by first publishing a notice of a meeting and holding a public hearing before amending the budget. The Code section applies to all County funds, i.e., General Fund, Capital Funds, E911, School Self-Sustaining, etc.
The cumulative total of the FY 17 appropriations included in the comprehensive resolution itemized below is $52,956,097.84 net of transfers between CIP funds. Because the cumulative amount of the appropriations exceeds one percent of the currently adopted budget, a budget amendment public hearing is required in order to re-appropriate unspent and unencumbered Capital Improvement Projects and Special Revenue funds.
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: The proposed FY 17 Budget Amendment and the comprehensive resolution funds and appropriates the remaining balance of $52,956,097.84 (net of transfers between CIP ...
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