HomeMy WebLinkAbout019-2016RESOLUTION NO. 19-2016
ACCEPTING THE MID -YEAR FINANCIAL REPORT AND APPROVING THE
MID -YEAR ADJUSTMENTS TO THE FISCAL YEAR 2015/16 OPERATING
BUDGET AND CAPITAL IMPROVEMENT PROGRAM
WHEREAS, all revenue and expenditure projections, which were made in preparing the
Fiscal Year 2015/16 Operating Budget, have been reviewed; and
WHEREAS, the following mid -year adjustments to the Fiscal Year 2015/16 Operating
Budget and Capital Improvement Program are recommended to reflect increased
revenues received and expenditure needs:
• Increase General Fund revenues by $142,613, from $23,615,597, to $23,758,210;
• Increase Building and Planning Special Revenue by $400,000, from $2,548,256, to
$2,948,256; increasing total Special Revenue from $8,369,507 to $8,769,507;
• Increase General Fund expenditures by $167,613, including $142,613 for personnel,
and $25,000 for Development Services - Transportation; increasing total General
Fund expenditures from $20,519,947 to $20,687,560;
• Increase Special Revenue expenditures by $95,000 for Development Services -
Building; increasing total Special Revenue expenditures from $10,281,736 to
$10,376,736.
• Add 1.0 Administrative Services Coordinator position with a salary range of
$3,572 - $4,894; and 1.0 Development Services Technician with a salary range of
$4,073 - $5,488.
WHEREAS, sufficient funding is available in the Town's funds;now, therefore, be it
RESOLVED, that the Danville Town Council hereby approves the mid -year adjustments
to the Fiscal Year 2015/16 Operating Budget and Capital Improvement Program.
APPROVED, by the Danville Town Council at a regular meeting held on February 16,
2016, by the following vote:
AYES:
NOES:
ABSTAINED:
ABSENT:
AP OVED AS TO FORM:
CITY ATTORNEY
ATTEST:
CITY CLERK
PAGE 2 OF RESOLUTION 19-2016