AGENDA DATE: May 15, 2017
TITLE: FY 18 Resolution of Appropriations
BODY
SUBJECT/PROPOSAL/REQUEST: Approval of the Resolution of Appropriations for the Albemarle County Operating and Capital Budgets for FY 18
ITEM TYPE: Action
STAFF CONTACT(S): Walker, Kamptner, and Allshouse, L.
PRESENTER (S): Lori Allshouse
LEGAL REVIEW: Yes
REVIEWED BY: Douglas C. Walker
BACKGROUND: The Board of Supervisors is scheduled to adopt the County’s FY 18 Operating and Capital Budgets totaling $397,897,173 during the May 15, 2017 Board meeting.
To provide the authority from the Board to spend these funds, an Annual Resolution of Appropriations for the fiscal year ending on June 30, 2018 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:
County Executive Authority: As in previous years, to continue to provide administrative efficiency and effectiveness throughout the year while providing transparency in budgeting, the FY 18 Resolution continues to authorize the County Executive to transfer funding from specific Board approved FY 18 non-departmental reserve accounts to the appropriate department accounts for expenditure. For FY 18, these specific reserve accounts are: 1) the General Government’s Training Pool, 2) the Innovation Fund, 3) the Salary Reserve, 4) the Fuel and Utilities Contingency Reserve, 5) the Strategic Priority Support Reserve, 6) the Transformational Initiatives Reserve, and 7) the Neighborhood Improvement Program 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. Additionally, this Resolution continues to 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.
Additionally, in accordance with Virginia Code 15.2-520, funds appropriated for outstanding grants may be carried over for one year without being re-appropriated. This Resolution requests that the Board authorize the County Executive to carry forward grants awarded in FY 18 into FY 19 without re-appropriation.
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 $14,548,079 in bond proceeds to reimburse capital program expenditures in the FY 18 Capital Budget.
RECOMMENDATION:
Recommendation
Staff recommends approval of the Annual Resolution of Appropriations for FY 18 (Attachment A) that allocates a total of $397,897,173 to various General Government and School Division operating, capital improvement, and debt service accounts for expenditure in FY 18 and provides administrative authority to the County Executive to make budget adjustments and transfers as outlined above.
This appropriation totals $397,897,173 and is made up of the following major funds:
General Fund $274,243,257
General Fund School Reserve Fund 1,062,403
School Fund 180,486,940
School Special Revenue Funds 19,154,746
Other General Government Funds 40,725,702
Capital Projects 49,087,313
Debt Service 24,333,649
SUBTOTAL $589,094,010
Less Inter-fund Transfers ($191,196,837)
TOTAL (new appropriations) $397,897,173
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 $14,548,079 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