COUNTY OF ALBEMARLE

 

EXECUTIVE SUMMARY

 

 

AGENDA TITLE:

FY 2005/2006 Resolution of Appropriations

 

SUBJECT/PROPOSAL/REQUEST:

Request Approval of the Resolution of Appropriations for the Albemarle County Operating and Capital Budgets for FY 2005/2006

 

STAFF CONTACT(S):

Tucker, White, Davis, Breeden

 

 

LEGAL REVIEW:   Yes

 

AGENDA DATE:

June 7, 2005

 

ACTION:                               INFORMATION:   

 

CONSENT AGENDA:

  ACTION:     X                     INFORMATION:   

 

 

ATTACHMENTS:     Yes

 

 

REVIEWED BY:

 

 

 

BACKGROUND:

The County’s FY 2005/2006 Operating and Capital Budgets were adopted by the Board of Supervisors on April 20, 2005, for a total estimated amount of $255,874,537. The attached Annual Resolution of Appropriations for the Fiscal Year ending on June 30, 2006 provides the authority from the Board of Supervisors for the County to spend those funds, effective July 1, 2005.

 

 

STRATEGIC PLAN:

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

 

 

DISCUSSION:

This Resolution is a comprehensive Resolution which appropriates the total County budget, including both operating and capital funds in a single resolution, and includes many of the initial Special Revenue Fund appropriations that in the past were not included in the operating appropriation resolution.

 

Since April, adjustments have been made to the adopted budget numbers as updated information became available. These adjustments have resulted in a revised net total appropriation amount in this resolution of $256,152,119, an increase of $277,582. The change is due to revised revenue estimates in the School Fund, revised estimates of federal funding for the Family Support Program, and changes to interfund transfer amounts.

 

General Fund                                                                                                                               $176,599,527

There are no changes to the General Fund Budget adopted in April.

 

School Fund                                                                                                                                 $126,285,987

The School Fund increases by $387,593 over the amount adopted in April. This is due to increases of $371,952 in revenues from fund balance, carry-over, and transfers, $15,179 in state revenue, and $462 in local school revenue.

 

School Self-Sustaining Funds                                                                                                        $13,359,322

The School Self-Sustaining Funds are reduced by $99,985. This is due to a decrease in the schools transfer to the fuel contingency fund of $100,000 and an increase of $15 in the preschool special education fund.

 

Special Revenue Funds                                                                                                                 $15,110,445

The Special Revenue Funds are reduced by $160,026. This is due to a decrease in federal funds for the Family Support program of $110,026 and a decrease in the school transfer to the Comprehensive Services Act (CSA) Fund of $50,000.

 

General Government Capital Improvements Fund                                                                        $13,166,000

There are no changes to the General Government Capital Improvements Fund Budget adopted in April.

 

School Division Capital Improvements Fund                                                                                   $9,383,000

There are no changes to the School Division Capital Improvements Fund Budget adopted in April.

 

Stormwater Capital Improvements Fund                                                                                            $450,000

There are no changes to the Stormwater Captial Improvements Fund Budget adopted in April.

 

Debt Service Fund                                                                                                                         $13,513,819

There are no changes to the Debt Service Fund Budget adopted in April.

 

 

RECOMMENDATIONS:

Staff recommends approval of the attached Annual Resolution of Appropriations for FY 2005/2006 that allocates a total of $256,152,119 to the various General Government and School Division operating, capital improvement, and debt service accounts for expenditure in the FY 2005/2006. Also recommended for approval is the attached Resolution of Official Intent to Reimburse Expenditures with Proceeds of a Borrowing.

 

 

ATTACHMENTS

Appropriation Resolution

Resolution of Official Intent to Reimburse Expenditures with Proceeds of a Borrowing

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