Subject:
Title
Public Hearing for Supplemental Adjustment to the 2022-23 General Fund Budget
Body
EXPLANATION AND SUMMARY:
This item contains a supplemental adjustment to the 2022-23 General Fund budget for two reasons:
1. Purchase Order Roll Forwards - purchase orders opened and expected to be completed in FY 2021-22. Due to extraordinary supply chain issues and staff shortages resulting from the COVD-19 pandemic, this list of items includes many of the vehicles ordered under the Vehicle Replacement Plan (VRP) and funds budgeted for asphalt paving and sidewalk construction that could not be completed in the last fiscal year.
2. Budgeted Carry Forwards - These are items identified by department heads that have come up since the 2022-23 budget was adopted and are necessary for the departments to complete their objectives in the current fiscal year.
Carry forward money is available because the Town had a surplus in FY 2021-22 of approximately $720,000. The surplus is due to a combination of several General Fund revenues exceeding budget plus salary savings due to position vacancies during the year.
It is the Town’s practice to put half of any fiscal year surplus is the Unreserved Fund Balance (Rainy Dy Fund) up to an amount that represents at least 18% of the subsequent year’s budget (Rainy Day percent). The remainder can be spent on items are determined by the departments and prioritized and approved by the Budget Committee, and then Council.
For 2022-23 the amount of supplemental appropriations requested are:
Purchase Order Roll Forwards $ 902,500, including $362,500 for vehicles
Carry Forwards $ 365,000
Total $1,267,500
Since the total supplemental budget appropriation is in excess of 1% of the Town’s 2022-23 General Fund budget, a public hearing to allow public comment is required per the Code of Virginia, section 15-2-2507.
Strategic Plan Initiative: Vienna is a fiscally responsible community.
Board or Commission of Interest: None
Departmental Recommendation: Recommend a public hearing and adoption of the supplemental appropriation.
Finance Recommendation: Recommend a public hearing and adoption of the supplemental appropriation.
Purchasing Recommendation: Recommend approval.
Town Attorney Recommendation: The state code requires a public hearing for the proposed amendment to the adopted Town Budget. The Town Council may set a public hearing in its discretion.
Town Manager's Recommendation: I recommend the Town Council close the public hearing and adopt the amendment to the FY 2022-23 General Fund budget, as presented.
Cost and Financing: $1,267,500
Account Number: various
Decision Needed by This Date: Sept. 26, 2022
PROPOSED/SUGGESTED MOTION
Recommended Action
"I move to close the public hearing"
And
“I further move to adopt the $1,267,500 amendment to the FY 2022-23 General Fund budget as presented.
Or
Other action deemed necessary by Council.