AGENDA DATE: 5/15/2019
TITLE:
Title
FY 20 Resolution of Appropriations
BODY
SUBJECT/PROPOSAL/REQUEST: Approval of the Resolution of Appropriations for the Albemarle County Operating and Capital Budgets for FY 20
ITEM TYPE: Regular Action Item
STAFF CONTACT(S): Richardson, Kamptner, Allshouse, L., Bowman, Vinzant, Mitchell
PRESENTER (S): Lori Allshouse
LEGAL REVIEW: Yes
REVIEWED BY: Jeffrey B. Richardson
BACKGROUND: The Board of Supervisors adopted the County’s FY 20 Operating and Capital Budgets totaling $456,895,261 during the April 16, 2019 Board meeting. At the Board’s May 1, 2019 meeting, staff will ask the Board to consider two items:
1) Adoption of Annual Resolution of Appropriations: To provide the authority from the Board to spend these funds, the Board’s adoption of an Annual Resolution of Appropriations for the fiscal year ending on June 30, 2020 is required. The attached FY 20 Annual Resolution of Appropriations includes amendments to reflect the School Board’s April 25 adoption of its budget for the School Fund.
2) Adoption of Resolution of Official Intent to Reimburse Expenditures with Proceeds of a Borrowing: In addition, the Board’s adoption 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:
1) Adoption of Annual Resolution of Appropriations
Attachment A: The Resolution of Appropriations 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:
Budget Amendment
The School Operating Fund and Special Revenue Fund budgets adopted by the School Board on April 25, 2019 are $127,360 more than the budgets approved by the Board of Supervisors. This net change is due to adjustments in local and state revenues, transfers, and use of fund balance.
This adjustment results in a total increase to the FY 20 Adopted Budget of $127,360. This amendment does not exceed one percent of the FY 20 total budgeted expenditures and therefore does not require a public hearing.
This Annual Resolution of Appropriations for FY 20 allocates a total of $457,022,621 to General Government and School Division operating, capital improvement, and debt service accounts for expenditure in FY 20 and provides administrative authority to the County Executive to make budget adjustments and transfers as outlined in Attachment A.
County Executive Authority
The appropriation resolution continues to authorize the County Executive to do the following things:
A) Transfer funding from specific Board approved FY 20 non-departmental reserve accounts to the appropriate department accounts for expenditure. For FY 20, these specific reserve accounts are: 1) the General Government’s Training Pool, 2) the Innovation Fund, 3) the Salary and Benefits Reserve, 4) the Pay for Performance Reserve, 5) the Board of Supervisors Strategic Priority Support Reserve, and 6) the Transformational Initiatives/Business Process Optimization Reserve.
B) Administratively approve budget transfers of unencumbered funds for up to $50,000.00 per fund in the fiscal year from one classification 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.
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.
2) Official Intent to Reimburse Expenditures with Proceeds of a Borrowing
Attachment B: The Resolution of Official Intent to Reimburse Expenditures with Proceeds of a Borrowing allows the County to use up to $91,842,856 in bond proceeds to reimburse capital program expenditures in the FY 20 Capital Budget.
RECOMMENDATION:
Recommendation
1) Staff recommends the adoption of the Resolution of Appropriations including the budget amendments described above (Attachment A).
2) Staff recommends adoption of the attached Resolution of Official Intent to Reimburse Expenditures with Proceeds of a Borrowing (Attachment B).
ATTACHMENTS:
A: FY 20 Resolution of Appropriations
B: Resolution of Official Intent to Reimburse Expenditures with Proceeds of a Borrowing