AGENDA DATE: 6/7/2017
TITLE:
Title
FY 2018 Appropriations and On-going Funding of Multi-Year Capital Projects
BODY
SUBJECT/PROPOSAL/REQUEST: Public Hearing on the Proposed FY 2018 Budget Amendment in the amount of $74,260,230.21, the Resolution to Appropriate FY 18 On-going Funding of Multi-Year Capital Projects #2018001, and the Resolution to approve Appropriation #2018002 for local government and school division projects and programs.
ITEM TYPE: Regular Action Item
STAFF CONTACT(S): Letteri, Walker, Kamptner, and Allshouse, L
PRESENTER (S): Lori Allshouse
LEGAL REVIEW: Yes
REVIEWED BY: Douglas C. Walker
BACKGROUND: 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 2018 appropriations itemized below is $74,260,230.21. Because the cumulative amount of the appropriations exceeds one percent of the currently adopted budget, a budget amendment public hearing is required.
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 increase of this FY 2018 Budget Amendment totals $74,260,230.21. The estimated expenses and revenues included in the proposed amendment are shown below:
ESTIMATED REVENUES
Local Revenue $ 972,799.84
State Revenue 4,770,673.10
Federal Revenue 159,000.00
Bond Proceeds 1,499,400.00
Other Fund Balances 66,858,357.27
TOTAL ESTIMATED REVENUES - All Funds $ 74,260,230.21
ESTIMATED EXPENDITURES
Special Revenue Funds 694,785.82
Capital Improvements Funds 73,565,444.39
TOTAL ESTIMATED EXPENDITURES - All Funds $ 74,260,230.21
The budget amendment is comprised of two (2) separate appropriations as follows:
• One (1) Appropriation (#2018001) to appropriate $104,096,502.21 for the County’s On-Going Multi-Year Capital Projects for the remaining balance (net of transfers between CIP funds) of encumbered purchase orders and contracts and of the unencumbered special revenue projects and capital projects in a single resolution; and
• One (1) Appropriation (#2018002) to appropriate ($29,836,272.00) for various School Capital projects included in the FY 18-23 Recommended CIP which are primarily projects that needed to start in FY 17 and other projects supported by General Obligation Bond funding issued in FY 17.
RECOMMENDATION:
Recommendation
After the public hearing, staff recommends that the Board: 1) adopt the attached Resolution of On-Going Multi-Year Capital Projects Appropriation #2018001 (Attachment B); and 2) adopt the attached Appropriation Resolution (Attachment C) to approve Appropriation #2018002 for local government and school division projects and programs as described in Attachment A.
ATTACHMENTS:
Attachment A - Appropriation Descriptions
Attachment B - Resolution of On-Going Multi-Year Capital Project Appropriation
Attachment C - Appropriation Resolution