AGENDA DATE: 10/4/2017
TITLE:
Title
FY 2018 Budget Amendment and Appropriations and Official Intent to Reimburse Expenditures with Proceeds of a Borrowing
BODY
SUBJECT/PROPOSAL/REQUEST: Public Hearing on the Proposed FY 2018 Budget Amendment in the amount of $13,600,923.84, the Resolution to approve Appropriations for local government and school division projects and programs, and the Resolution of Intent to Reimburse Expenditures Related to School Capital Projects with Proceeds of a Borrowing.
ITEM TYPE: Regular Action Item
STAFF CONTACT(S): Walker, Letteri, 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 $13,600,923.84. 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 $13,600,923.84. The estimated expenses and revenues included in the proposed amendment are shown below:
ESTIMATED EXPENDITURES
General Fund
$
758,333.15
Special Revenue Funds
$
2,037,473.13
ECC Funds
$
322,432.50
Capi...
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