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 $7,503,027.82 and request approval of amendment and of Appropriations #2007078, #2007079, #2007080, #2007081, #2007082, #2007083, #2007084, and #2007085 for provide funding for various local government, school, and capital programs.

 

STAFF CONTACT(S):

Messrs. Tucker, Foley, Davis, Breeden, Wiggans

 

LEGAL REVIEW:   Yes

 

 

AGENDA DATE:

June 6, 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 $7,503,027.82.  The estimated expenses and revenues included in the proposed amendment are shown below:

 

                                                                                                                                            

ESTIMATED EXPENDITURES

                  Special Revenue Funds                                                          $               90,641.00

                  School Fund                                                                          $                5,600.00

                  School Program Funds                                                           $                6,015.00

                  Capital Fund                                                                          $          7,400,690.10

                  Stormwater Fund                                                                   $                      81.72

                 

                  TOTAL ESTIMATED EXPENDITURES – All Funds                $           7,503,027.82

 

ESTIMATED REVENUES

                  Local Revenues (Fees, Contributions, Donations, Proffers)        $               79,386.82

                  State Revenue                                                                       $              82,641.00

                  Federal Revenue                                                                    $                3,000.00

                  General Fund Balance                                                            $          7,225,000.00

                  Other Fund Balances                                                              $            113,000.00

 

                  TOTAL ESTIMATED REVENUES – All Funds                         $          7,503,027.82

 

 

The budget amendment is comprised of nine (9) separate appropriations, one (1) of which has already been approved by the Board as indicated below:

 

            Approved May 9, 2007:

 

One (1) appropriation (#2007077) totaling $113,000.00 for additional funding for the vehicle sallyport project.

 

The eight (8) new appropriations are as follows:

 

·         One (1) appropriation (#2007078) provides $11,615.00 in funds for various Education programs;

·         One (1) appropriation (#2007079) totaling $8,000.00 for two Police Department grants;

·         One (1) appropriation (#2007080) reallocating $359,586.50 in capital funds from the Greenbelt-Boat Access project to the Byrom Forest Preserve project;

·         One (1) appropriation (#2007081) transferring $12,690.10 from the Glenmore Proffer fund for Stone Robinson School field improvements and $50,000.00 from the Old Trail Proffer to fund the Western Park Master Plan;

·         One (1) appropriation (#2007082) allocating $10,775.00 from the Board’s contingency reserve for the June 12th primary election;

·         One (1) appropriation (#2007083) provides $87,410.00 in funding for a Child Advocacy Center grant for the Commission on Children and Families;

·         One (1) appropriation (#2007084) transferring $7,225,000.00 in FY06 excess revenues and expenditure savings to the Capital Improvements Fund; and

·         One (1) appropriation (#2007085) transferring $81.72 in interest earnings from the Greenbrier Office Park proffer to the Stormwater Fund.

 

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 $7,503,027.82 after the public hearing, and then approval of Appropriations #2007078, #2007079, #2007080, #2007081, #200782, #2007083, #2007084, and #2007085 to provide funds for various local government, school, and capital projects and programs as described in Attachment A.

 

 

ATTACHMENTS:

A – Proposed Appropriations

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