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 $1,974,025.39 and request approval of amendment and of Appropriations #2005060, #2005061, and #2005062, to provide funding for various School and General Government Programs.

 

STAFF CONTACT(S):

Messrs. Tucker, Breeden, Wiggans; Ms. White

 

LEGAL REVIEW:   No

 

AGENDA DATE:

July 6, 2005

 

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 infrastructure.

 

 

DISCUSSION:

The proposed increase of this FY 2005 Budget Amendment totals $1,974,025.39. The estimated expenses and revenues included in the proposed amendment are shown below:

 

            ESTIMATED EXPENDITURES

                  Education Fund                                           $       1,012,095.00

                  Education Programs/Grants                          $         102,505.24

                  800 Mhz System                                         $         699,425.15

                  Capital Improvement Program                        $         160,000.00

 

                  TOTAL ESTIMATED EXPENDITURES All Funds                  $   1,974,025.39

 

            ESTIMATED REVENUES

                  Local Revenues                                           $         881,520.15

                  State Revenues                                           $           77,500.00

                  Federal Revenues                                        $             4,990.00

                  School Fund Balances                                 $       1,010,015.24

 

                  TOTAL ESTIMATED REVENUES All Funds                         $   1,974,025.39

 

The budget amendment is comprised of four (4) separate appropriations, as indicated below:

 

                  Approved June 1, 2005:

         One (1) appropriation (#2005059) in the amount of $160,000.00 to fund a transportation study

 

            The three new appropriations are as follows:

         Two (2) appropriations (#2005060, and #2005062) in the amounts of $1,112,505.24 and $2,095.00 respectively for various school programs and donations; and

         One (1) appropriation (#2005061) in the amount of $699,425.15 for the 800 MHz Program.

 

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

 

 

BUDGET IMPACT:

The budget impact is detailed in the Discussion and in Attachment A.

 

 

RECOMMENDATIONS:

Staff recommends approval of the FY 2005 Budget Amendment in the amount of $1,974,025.39, after the public hearing, and then approval of Appropriations #2005060, #2005061, and #2005062, and to provide funds for various General Government and School programs as described in Attachment A.

 

View Attachment A
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