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 $570,718.74 and request approval of amendment and of Appropriations #2007050, #2007052, #2007053, #2007054, and #2007055 to provide funding for various local government , school, capital, and Emergency Communication  Center programs.

 

STAFF CONTACT(S):

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

 

LEGAL REVIEW:   Yes

 

 

AGENDA DATE:

February 7, 2007   

 

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:

Goal 5:  Develop a comprehensive funding strategy/plan to address the County’s growing needs.

 

 

DISCUSSION:

The proposed increase of this FY 2007 Budget Amendment totals $570,718.74.  The estimated expenses and revenues included in the proposed amendment are shown below:

                                                                                                                                            

ESTIMATED EXPENDITURES

                  Special Revenue Funds (Proffers)                                            $             300,000.00

                  School Fund                                                                         $                2,325.24

                  Capital Fund                                                                         $             245,343.50

                  Emergency Communications Center                                       $              23,050.00

                                                                                                                      

                  TOTAL ESTIMATED EXPENDITURES – All Funds                $              570,718.74

 

ESTIMATED REVENUES

                  Local Revenues (Fees, Contributions, Donations)                     $             547,668.74

                  ECC Fund Balance                                                                $               23,050.00

                 

                  TOTAL ESTIMATED REVENUES – All Funds                         $             570,718.74

 

 

 

The budget amendment is comprised of six (6) separate appropriations, one (1) of which has already been approved by the Board as indicated below:

 

            Approved January 10, 2007

 

·         One (1) appropriation (#2007051) totaling $300,000.00 for the refund of the North Pointe Albemarle Housing proffer to the Charlottesville Area Community Foundation after the cash proffer was paid by a different funding source.

 

The five (5) new appropriations are as follows:

 

 

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 $570,718.74 after the public hearing, and then approval of Appropriations #2007050, #2007052, #2007053, #2007054, and #2007055 to provide funds for various local government, school, capital, and ECC projects and programs as described in Attachment A.

 

 

ATTACHMENTS:

A – Proposed Appropriations
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