| | | | | | | | Spotsylvania County
Board of Supervisors Agenda
Executive Summary |
| | | | | | | | Meeting Date:
| July 11, 2017 |
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| | | | | | | | Title:
| Approval of Budget Amendment to Correct Estimates of Tower Rental Revenue |
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| | | | | | | | Agenda Title:
| Approval of Budget Amendment to Correct Estimates of Tower Rental Revenue |
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| | | | | | | | Recommendation:
| Staff recommends that the Board approve the attached budget amendment. |
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| | | | | | | | Non-Staff Name and Title of Presenters:
| Staff seeks the Board's approval to correct the budget such that revenue from the Sawhill and Battlefield water tanks is allocated to the Utilities Operating Fund instead of to the General Fund. |
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| | | | | | | | Summary:
| A budget adjustment is necessary to correct the estimates of tower rental revenue assumed for both the General Fund and Utilities Operating Fund in the FY 2018 Adopted Budget. $36,068 in revenue expected from equipment placed on the Sawhill water tank was incorrectly included in the General Fund budget for FY 2018 and needs to shift to the Utilities Operating Fund budget. Also, $35,190 in revenue expected from a new agreement for placements on the Battlefield water tank was not included in the budget and needs to be budgeted. |
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| | | | | | | | Committee/Commission Summary:
| Finance Committee |
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| | | | | | | | Review Date:
| June 22, 2017 |
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| | | | | | | | Financial Impact:
| Please see the attached budget adjustment. |
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| | | | | | | | Staff Contacts:
| Bonnie Jewell, Budget Manager |
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| | | | | | | | Consequence of Denial/Inaction:
| If the request is denied, the FY 2018 budget will be out of alignment with current expectations of tower rental revenue in the General Fund and Utilities Operating Fund. |
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| | | | | | | | Talking Points:
| Staff seeks the Board's approval to correct the budget such that revenue from the Sawhill and Battlefield water tanks is allocated to the Utilities Operating Fund instead of to the General Fund. |
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