COUNTY OF ALBEMARLE

 

EXECUTIVE SUMMARY

 

 

AGENDA TITLE:

Proposed FY 2006 Budget Amendment

 

SUBJECT/PROPOSAL/REQUEST:

Public Hearing on the Proposed FY 2006 Budget Amendment in the amount of $1,055,758.90 and request approval of amendment and of Appropriation #20060093 for School programs.

 

STAFF CONTACT(S):

Messrs. Tucker, Breeden, Wiggans; Ms. White

 

LEGAL REVIEW:   No

 

AGENDA DATE:

September 6, 2006    

 

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 2006 Budget Amendment totals $1,055,758.90. The estimated expenses and revenues included in the proposed amendment are shown below:

 

            ESTIMATED EXPENDITURES

                  Education Fund                                                                    $              10,074.47    

                  Education Programs                                                              $          1,042,344.43

                  Capital Improvements Fund                                                    $                 3,340.00

 

                  TOTAL ESTIMATED EXPENDITURES All Funds                $          1,055,758.90

 

            ESTIMATED REVENUES

                  Local Revenues                                                                     $             217,011.97

                  Federal Revenues                                                                  $             227,887.93

                  Other Fund Balance                                                               $            610,859.00

 

                  TOTAL ESTIMATED REVENUES All Funds                         $          1,055,758.90

 

The budget amendment is comprised of three (3) separate appropriations, two (2) of which have already been approved by the Board as indicated below:

 

Approved August 2, 2006

 

         One (1) appropriation (#2006091) totaling $3,340.00 for a donation to the Crozet Greenway Program; and

         One (1) appropriation (#2006092) totaling $126,320.70 for various education programs.

 

The one (1) new appropriation is as follows:

 

         One (1) appropriation (#2006093) totaling $926,098.20 for education donations and programs.

 

A detailed description of this request is provided on Attachment A.

 

 

RECOMMENDATIONS:

Staff recommends approval of the FY 2006 Budget Amendment in the amount of $1,055,758.90 after the public hearing, and then approval of Appropriation #2006093 provide funds for various School programs as described in Attachment A.

 

View Attachment

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