COUNTY OF ALBEMARLE
Proposed FY 2005 Budget Amendment
Public Hearing on the Proposed FY 2005 Budget Amendment in the amount of $614,600.00 and request approval of amendment and of Appropriation #2005001 to provide funding for various School programs.
Messrs. Tucker, Breeden, Ms. White
June 2, 2004
ACTION: X INFORMATION:
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 Funds, E-911, School Self-Sustaining, etc.
4.2 Fund County services in a fair, efficient manner and provide needed public facilities and infrastructure.
The proposed increase of this FY 2005 Budget Amendment totals $614,600.00. The estimated expenses and revenues included in the proposed amendment are shown below:
Education Fund $ 614,600.00
TOTAL ESTIMATED EXPENDITURES – All Funds $ 614,600.00
Other Fund Balances $ 614,600.00
TOTAL ESTIMATED REVENUES – All Funds $ 614,600.00
This budget amendment is comprised of one appropriation (#2005001) in the amount of $614,600 and uses fund balance to amend the school budget to match the amount adopted on April 22, 2004 by the School Board.
A detailed description of this request is provided on Attachment A.
Staff recommends approval of the FY 2005 Budget Amendment in the amount of $614,600.00, after the public hearing, and then approval of Appropriation #2005001 to provide funds for various School programs as described in Attachment A.
Return to regular agenda