COUNTY OF ALBEMARLE

 

EXECUTIVE SUMMARY

 

 

AGENDA TITLE:

Proposed FY 2005 Budget Amendment

 

SUBJECT/PROPOSAL/REQUEST:

Public Hearing on the Proposed FY 2005 Budget Amendment in the amount of $5,568,782 and request approval of amendment and of Appropriations #2005002, #2005003, #2005004, and #2005005 to provide funding for various General Government and School Programs.

 

STAFF CONTACT(S):

Messrs. Tucker, Breeden, Wiggans; Ms. White

 

LEGAL REVIEW:   No

 

AGENDA DATE:

July 7, 2004

 

ACTION:    X                        INFORMATION: 

 

CONSENT AGENDA:

  ACTION:                            INFORMATION: 

 

 

ATTACHMENTS:   Yes

 

 

REVIEWED BY:

 

 

 

BACKGROUND:

The Code of Virginia §15.2-2507 stipulates that any locality may amend its budget to adjust the aggregate amount to be appropriated during the current fiscal year as shown in the currently adopted budget.  However, any such amendment which exceeds one percent of the total expenditures shown in the currently adopted budget or the sum of $500,000, whichever is lesser, 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 Fund, E-911, School Self-Sustaining, etc.

 

STRATEGIC PLAN:

4.2  Fund County services in a fair, efficient manner and provide needed public facilities and infrastructure.

 

DISCUSSION:

The proposed increase of this FY 2005 Budget Amendment totals $5,568,782.  The estimated expenses and revenues included in the proposed amendment are shown below:

 

       ESTIMATED EXPENDITURES

                   General Fund                                                     $   1,357,830.00

                   General Fund Programs/Grants                           $      176,790.00

                   Education Fund                                                 $   1,346,662.00

                   Capital Improvement Program                              $   2,687,500.00

 

       TOTAL ESTIMATED EXPENDITURES – All Funds                                              $   5,568,782.00

 

       ESTIMATED REVENUES

                   State Revenues                                                 $      155,897.00

                   General Fund Balance                                        $   2,725,385.00

                   Other Fund Balances                                         $   2,687,500.00

 

TOTAL ESTIMATED REVENUES – All Funds                                                     $ 5,568,782.00

 

This budget amendment is comprised of four (4) separate appropriations:

 

·         One appropriation (#2005002) in the amount of $2,693,324 recognizing additional school revenue;

 

·         One appropriation (#2005003) providing additional salary and fringe benefits, totaling $11,168 for the Commonwealth’s Attorney;

 

·         One appropriation (#2005004) providing $2,687,500 for the County’s share to purchase the Levy property; and

 

·         One appropriation (#2005005) increasing funding for the Bright Stars Program by $176,790.

 

A detailed description of these requests is provided on Attachment A.

 

 

RECOMMENDATION:

Staff recommends approval of the FY 2005 Budget Amendment in the amount of $5,568,782, after the public hearing, and then approval of Appropriations #2005002, #2005003, #2005004, and #2005005 providing funding for various General Government, School, and Capital programs as described in Attachment A.

 

View Attachment A
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