PUBLIC HEARING AGENDA REQUEST

Finance Committee                                                                              April 15, 2002

  Department, Organization                                                              Board of Supervisors

  Or Person Making Request                                                                    Meeting Date

Bryan Tippie, Director, Budget Office

Staff Lead and Department                                                                                         

Topic:  A Resolution to Amend the FY 2002 Budget in the Amount of $2,428,620

The Code of Virginia requires a public hearing when amendments to the budget exceed the lesser of $500,000 or 1% of the total budget.  The Board of Supervisors has approved resolutions which establish construction reserves for both the School Division and the General County Government from the prior year fund balances.  $2,428,620 has been identified for these reserves from FY 2001 and, therefore, requires a public hearing. 

The following budget related issues to be subject to the public hearing have been reviewed and recommended for approval by the Finance Committee.   

Amount Source of Funds

Issue

$863,929

½ of Prior Year School Division Net Balance

School Construction Reserve

$1,564,691

½ of Prior Year, General Fund Revenue Balance

General County Construction Reserve

 

 

 

 

$2,428,620

 

TOTAL

 Requested Action of the Board of Supervisors: 

Adoption of the attached resolution.

Financial Impacts Analysis: 

Financial impact as indicated.

Identify Any Other Departments, Organizations or Individuals That Would be Affected by This Request: 

For implementation, actions would also affect the General Government, School Division,   and Capital Improvements Funds.