HomeMy WebLinkAbout019-2017RESOLUTION NO. 19-2017
ACCEPTING THE MID -YEAR FINANCIAL REPORT AND APPROVING THE
MID -YEAR ADJUSTMENTS TO THE FISCAL YEAR 2016/17 OPERATING
BUDGET AND CAPITAL IMPROVEMENT PROGRAM
WHEREAS, all revenue and expenditure projections, which were made in preparing
the Fiscal Year 2016/17 Operating Budget, have been reviewed; and
WHEREAS, the following mid -year adjustments to the Fiscal Year 2016/17 Operating
Budget and Capital Improvement Program are recommended to reflect increased
revenues received and expenditure needs:
• Increase General Fund revenues by $233,000, from $24,103,237, to $24,336,237;
• Increase Donations/ Contributions Special Revenue by $100,000, from $4,734, to
$104,734;
• Increase Building and Planning Special Revenue by $226,000, from $2,650,487, to
$2,876,487; increasing total Special Revenue from $8,333,863 to $8,659,863;
• Increase General Fund expenditures by $347,500, including $118,000 for
personnel, $115,000 for Recreation, Arts and community Services, $22,500 for
Police Services and $92,000 for Administrative Services - Human Resources for
$17,000, Risk Management for $75,000; increasing total General Fund
expenditures from $21,194,690 to $21,542,190;
• Increase Special Revenue expenditures by $169,000 for Development Services -
Building for $100,000, Planning for $26,000 and Measure J - Transportation
Services for $38,000; increasing total Special Revenue expenditures from
$9,109,186 to $9,278,186;
• Modify the description and scope for CIP Project B-597 - Village Theatre parking
Lot Expansion; and
• Appropriate $300,000 from SCC Regional Traffic Fund for CIP Project C-595
Pavement Management Program.
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 2016/17 Operating Budget and Capital Improvement
Program.
APPROVED, by the Danville Town Council at a regular meeting held on February 21,
2017, by the following vote:
AYES: Arnerich, Blackwell, Morgan,
NOES: None
ABSTAINED: None
ABSENT: None
APPROVED AS TO FORM:
CITY ATTORNEY
ATTEST:
CITY CLER
PAGE 2 OF RESOLUTION NO. 19-2017