COUNTY OF ALBEMARLE

 

EXECUTIVE SUMMARY

 

 

AGENDA TITLE:

Proposed FY 2007 Budget Amendment

 

SUBJECT/PROPOSAL/REQUEST:

Public Hearing on the Proposed FY 2007 Budget Amendment in the amount of $45,376,092.99 and request approval of amendment and of Appropriations #2007014, #2007015, #2007017, #2007018, #2007019, #2007020, #2007022, #2007023, #2007024, and #2007025 to provide funding for various local government, school, and capital projects and programs.

 

STAFF CONTACT(S):

Messrs. Tucker, Davis, Breeden, Wiggans; Ms. White

 

LEGAL REVIEW:   Yes

 

 

AGENDA DATE:

October 4, 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 2007 Budget Amendment totals $45,376,092.99. The estimated expenses and revenues included in the proposed amendment are shown below:

 

                                                                                                                                            

ESTIMATED EXPENDITURES

                  General Fund                                                                        $               623,095.64

                  Special Revenue Funds (Grants, Self-Sustaining)                     $                 83,378.96

                  Education Program Funds (Grants)                                         $                 18,092.00

                  Capital Improvements Funds                                                   $          39,773,287.52

                  ECC Capital Funds                                                                $             3,173,300.78

                  Storm Water Fund                                                                 $            1,704,938.09

 

                  TOTAL ESTIMATED EXPENDITURES – All Funds                $          45,376,092.99

 

ESTIMATED REVENUES

                  Local Revenues (Fees, Contributions, Donations)                     $               664,800.02

                  State Revenues                                                                     $               126,541.26

                  Federal Revenues                                                                  $                 95,417.00

                  Loan Proceeds                                                                      $          11,658,000.00

                  General Fund Balance                                                           $               593,252.64

                  Other Fund Balances                                                             $          32,238,082.07

 

                  TOTAL ESTIMATED REVENUES – All Funds                         $         45,376,092.99

 

The budget amendment is comprised of eleven (11) separate appropriations, one (1) of which has already been approved by the Board as indicated below:

 

            Approved September 6, 2006

 

·         One (1) appropriation (#2007016) totaling $29,943.00 for the additional staff person for the Commonwealth Attorney’s office.

 

The ten (10) new appropriations are as follows:

 

·         One (1) appropriation (#2007014) allocating $47,361.96 to AHIP for CDBG-eligible projects;

·         One (1) appropriation (#2007015) totaling $3,800.00 for a law student intern in the Commonwealth Attorney’s office;

·         One (1) appropriation (#2007017) totaling $18,092.00 for education programs;

·         Four (4) appropriations (#2007018, #2007020, #2007022,  and #2007023) reappropriating $44,651,526.39  for uncompleted projects and programs in the General Fund CIP,  School Fund CIP, Storm Water Program, and ECC Capital projects;

·         One (1) appropriation (#2007019) totaling $32,117.00 for two grants received by the Sheriff’s Department;

·         One (1) appropriation (#2007024) allocating $238,512.00 for new department requested projects and initiatives; and

·         One (1) appropriation (#2007025) totaling $354,740.64 reappropriating funds for uncompleted projects.

 

 

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

 

 

RECOMMENDATIONS:

Staff recommends approval of the FY 2007 Budget Amendment in the amount of $45,376,092.99 after the public hearing, and then approval of Appropriations #2007014, #2007015, #2007017, #2007018, #2007019,  #2007020, #2007022, #2007023, #2007024, and #2007025  to provide funds for various local government , school, ECC, and capital projects and programs as described in Attachment A.

 

View Attachment A

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