AGENDA DATE: 6/6/2018
TITLE:
Title
FY 2019 Budget Amendment and Appropriations
BODY
SUBJECT/PROPOSAL/REQUEST: Public Hearing on the Proposed FY 2019 Budget Amendment and the Resolution to approve Appropriations for local government and projects and programs.
ITEM TYPE: Regular Action Item
STAFF CONTACT(S): Richardson, Walker, Kamptner, Bowman
PRESENTER (S): Andy Bowman
LEGAL REVIEW: Yes
REVIEWED BY: Jeffrey B. Richardson
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 2019 appropriations itemized below is $61,357,334.56. 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 2019 Budget Amendment totals $61,357,334.56. The estimated expenses and revenues included in the proposed amendment are shown below:
Local Revenues $ 1,073,724.30
State Revenues $ 5,043,142.05
Federal Revenues $ 159,000.00
Bond Proceeds $ 17,684,214.12
Proffer Revenue $ 1,848,622.68
Other Fund Balances $ 35,548,631.41
TOTAL ESTIMATED REVENUES $ 61,357,334.56
General Fund $ 50,221.30
Special Revenue Funds $ 471,610.93
Capital Improvement Funds $ 60,835,502.33
TOTAL ESTIMATED EXPENDITURES $ 61,357,334.56
The budget amendment is comprised of four (4) separate appropriations: #2019001, #2019002, #2019003, and #2019004.
RECOMMENDATION:
Recommendation
After the public hearing, staff recommends that the Board adopt the attached Resolutions (Attachments B and C) to approve appropriations #2019001, #2019002, #2019003, and #2019004 for local government and school projects and programs as described in Attachment A.
ATTACHMENTS:
Attachment A - Appropriation Descriptions
Attachment B - Resolution to Appropriate On-going Funding of Multi-Year Capital Projects
Attachment C - Appropriation Resolution