HomeMy WebLinkAbout094-93RESOLUTION NO. 94-93
APPROVING REVENUE AND EXPENDITURE ADJUSTMENTS
TO THE 1993-94 FINANCIAL PLAN
WHEREAS, property tax revenue estimates in the 1993-94 Financial Plan included a
$500,000 loss in anticipation of revenue reductions by the State; and
WHEREAS, expenditure and service level reductions were necessary to cover the loss of
revenue; and
WHERF~S, the State budget impact is now projected to reduce Town revenues by an
estimated $50,000; and
WHEREAS, Council directed staff to reexamine service level reductions and make any
recommendations to restore funding to certain programs effected by the cutbacks; and
WHEREAS, staff has determined up to $350,000 may be available for restoration of
program cuts and has made recommendations for its possible allocation; now, therefore,
be it
RESOLVED, by the Town Council of the Town of Danville, that the 1993-94 Financial Plan
be amended and that an additional $76,000 be appropriated for Maintenance Services, that
$75,000 be appropriated for a litigation reserve fund, that the operating reserve be
increased by $30,000 and that $177,287 be held as an undesignated reserve in the
General Fund; and be it
FURTHER RESOLVED, that the sum of these appropriations to the 1993-94 financial plan
is $181,000 and that the operating expenditure budget is $9,241,273.
APPROVED by the Danville Town Council at a Regular Meeting held on August 3, 1993
by the following vote:
AYES:
NOES:
ABSTAINED: NONE
ABSENT: NONE
SHIMANSKY, RITCHEY, DOYLE, GREENBERG, LANE
NONE
APPROVED AS TO FORM:
ATTEST:
CITY CLERK