HomeMy WebLinkAbout026-2012RESOLUTION NO. 26-2012
ACCEPTING THE MID -YEAR FINANCIAL REPORT AND
APPROVING THE MID -YEAR ADJUSTMENTS TO THE
FISCAL YEAR 2011/12 OPERATING BUDGET
WHEREAS, all revenue and expenditure projections, which were made in preparing
the Fiscal Year 2011/12 Financial Plan, have been reviewed; and
WHEREAS, the following mid -year adjustments to the Fiscal Year 2011/12 Financial
Plan are recommended to reflect changes in revenues, reflect increased expenditure
needs, adjust transfers and designations and continue balancing expenditures and
transfers with available revenues and reserves:
• An increase of $370,000 in Sales Tax to the General Fund;
• A decrease of $134,408 in VLF fees to the General Fund;
• A decrease of $43,000 in Fines/ Forfeitures to the General Fund;
• An increase of $143,753 in Insurance Rebate, Miscellaneous Revenue category of
the General Fund;
• An increase of $347,414.16 for Lease Payments revenues to reimburse the General
Fund pursuant to the 2001 COP and 2005 COP Reimbursement Agreements;
• An appropriation of $347,414.16 from the General Fund for debt service payment
for the 2001 COP and 2005 COPs;
• An appropriation of $41,438 from the General Fund for personnel costs in the
Economic Development program and $13,802 in the Special Events programs for
a total of $55,240;
• An increase of $100,000 in the Police (SLESF) Fund for the COPS Grant;
• An increase of $48,000 in the Permit /Plan Check Fee revenue category of the
Building and Planning Fund;
• A decrease of $102,777 in the Gas Tax Fund;
• An appropriation of $4,000 of PEG funds in the Asset Replacement Program;
• An appropriation of $30,000 of Building and Planning funds to cover building -
contracted plan check services;
• Elimination of the $105,000 designated for booking fees.
WHEREAS, sufficient funding is available in the Town's funds; now, therefore, be it
RESOLVED, that the Danville Town Council approves the mid -year adjustments to the
Fiscal Year 2011/12 Financial Plan.
APPROVED, by the Danville Town Council at a regular meeting held on February 21,
2012, by the following vote:
AYES: Andersen, Arnerich, Doyle, Stepper, Storer
NOES: None
ABSTAINED: None
ABSENT: None
APPROVED AS TO FORM:
S
CITY ATTORNEY
AYOR
ATTEST:
CITY CLERK
PAGE 2 OF RESOLUTION 26 -2012