HomeMy WebLinkAbout009-2019DocuSign Envelope ID: BFA989E1-D4D1-4BB5-A91C-E9D5AE72A9BD
RESOLUTION NO. 9-2019
ACCEPTING THE MID -YEAR FINANCIAL REPORT AND APPROVING MID-
YEAR ADJUSTMENTS TO THE FY 2018/19 OPERATING BUDGET
WHEREAS, all revenue and expenditure projections, which were made in preparing the
Fiscal Year 2018/19 Operating Budget, have been reviewed; and
WHEREAS, the following mid -year adjustments to the Fiscal Year 2018/19 Operating
Budget are recommended to reflect increased revenues received and expenditure needs:
General Fund - Revenues
• Increase Other Revenues - Franchise Fees - Solid Waste by $17,468; increasing total
General Fund revenues from $26,152,198 to $26,169,666.
General Fund Transfers
• Transfer $17,468 to the Capital Improvement Program, Project B-597 (Village Theatre
Parking Lot Improvement project).
• Transfer $250,000 from the Contingency Fund to the Capital Improvement Program -
General Purpose fund;
• Transfer $200,000 from the Hartz Avenue Rental Reserve fund to the Capital
Improvement Program - General Purpose fund;
• Reduce the transfer to LLAD operations by $250,000, from $900,000 to $650,000; and
transfer $250,000 to the Capital Improvement Program - General Purpose fund;
Special (Restricted) Revenue - Revenues
• Increase Donations/ Contributions revenues by $15,000; increasing total Special
Revenue revenues from $9,419,286 to $9,434,286.
Special (Restricted) Revenue - Expenditures
• Increase Donations/ Contributions expenditures - Police Services - Patrol by $15,000;
increasing total Special Revenue expenditures from $9,600,552 to $9,615,552.
Special (Restricted) Revenue - Transfers
• Transfer $500,000 From Building and Planning to the Capital Improvement Program
- General Purpose fund.
WHEREAS, sufficient funding is available in the Town's funds; now, therefore, be it
DocuSign Envelope ID: BFA989E1-D4D1-4BB5-A91C-E9D5AE72A9BD
RESOLVED, that the Danville Town Council
to the Fiscal Year 2018/19 Operating Budget.
APPROVED, by the Danville Town Council
2019, by the following vote:
AYES: Arnerich, Blackwell, Morgan, Stepper,
NOES: None
ABSTAINED: None
ABSENT: None
APPROVED AS TO FORM:
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CITY ATTORNEY
hereby approves the mid -year adjustments
at a regular meeting held on February 19,
Storer
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MAYOR
ATTEST:
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CITY CLERK
PAGE 2 OF RESOLUTION NO. 9-2019