HomeMy WebLinkAbout023-2018RESOLUTION NO. 23-2018
ACCEPTING THE MID -YEAR FINANCIAL REPORT AND APPROVING MID-
YEAR ADJUSTMENTS TO THE 2017/18 OPERATING BUDGET
WHEREAS, all revenue and expenditure projections, which were made in preparing the
Fiscal Year 2017/18 Operating Budget, have been reviewed; and
WHEREAS, the following mid -year adjustments to the Fiscal Year 2017/18 Operating
Budget are recommended to reflect increased revenues received and expenditure needs:
General Fund
Increase expenditures by $37,500 for Maintenance Services - Parks Maintenance from
$1,090,056 to $1,127,556; increasing total General Fund expenditures from
$22,352,328 to $22,389,828.
Special(Restricted) Revenue
• Increase Donations/ Contributions revenues by $14,500 from $4,734, to $19,234;
• Increase LLAD - Zone D expenditures by $37,500 for Maintenance Services - Parks
Maintenance from $1,094,107 to $1,131,607; increasing total LLAD - Zone D
expenditures from $1,546,211 to 1,583,711;
• Increase Donations/ Contributions expenditures - Parks Maintenance by $14,500;
increasing total Donations /Contributions Special Revenue expenditures from $3,775
to $18,275;
• Decrease Building and Planning revenue by $300,000, from $2,752,600 to $2,452,600;
decreasing total Special Revenue from $8,848,517 to $8,563,017;
• Decrease Building expenditures by $105,000, from $1,462,842 to $1,357,842; decrease
Planning expenditures by $20,000, from $737,741 to $717,741; decreasing total Special
Revenue expenditures from $9,503,199 to $9,430,199.
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 2017/18 Operating Budget.
APPROVED, by the Danville Town Council at a regular meeting held on February 20,
2018, by the following vote:
AYES:
NOES:
Arnerich, Blackwell, Stepper
None
ABSTAINED: None
ABSENT: None
APPROVED AS TO FORM:
CITY ATTORNEY
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