| | | | | | | | Spotsylvania County
Board of Supervisors Agenda
Executive Summary |
| | | | | | | | Meeting Date:
| August 8, 2017 |
|
| | | | | | | | Title:
| Appropriation & Budget Amendment for FY 2018 Revised School Budget Figures Based on Final Revenue Projections |
|
| | | | | | | | Type:
| Action, Appropriation |
|
| | | | | | | | Agenda Title:
| Appropriation & Budget Amendment for FY 2018 Revised School Budget Figures Based on Final Revenue Projections |
|
| | | | | | | | Recommendation:
| Staff recommends that the Board approve the attached budget amendment and appropriation. |
|
| | | | | | | | Non-Staff Name and Title of Presenters:
| Subsequent to the Board's adoption of the FY 2018 Budget in April, the School Board adjusted revenue projections to include use of the Schools’ health insurance reserve for health insurance costs as its members worked to balance and adopt the Schools' FY 2018 Budget. A budget adjustment and appropriation are necessary to match the County’s budget to the budget adopted by the School Board. There is, of course, no change in the assumption of local transfer to the Schools which remains budgeted at $124,075,315 for FY 2018. |
|
| | | | | | | | Summary:
| The Board of Supervisors adopted both the County and Schools budgets on April 4, 2017. Subsequent to that action, the Schools adjusted revenue projections to include use of the Schools’ health insurance reserve as the FY 2018 Budget was balanced and adopted by the School Board. The health insurance reserve is being used for health insurance costs in FY 2018.
The attached budget adjustment and appropriation are necessary to match the County’s budget to the budget adopted by the School Board. There is, of course, no change in the assumption of local transfer to the Schools which remains budgeted at $124,075,315 for FY 2018. |
|
| | | | | | | | Committee/Commission Summary:
| Finance Committee |
|
| | | | | | | | Review Date:
| July 20, 2017 |
|
| | | | | | | | Financial Impact:
| Please see the attached budget adjustment and appropriation. |
|
| | | | | | | | Staff Contacts:
| Bonnie Jewell, Budget Manager |
|
| | | | | | | | Consequence of Denial/Inaction:
| If the request is denied, the FY 2018 budgets for the County and Schools will be out of alignment and actual appropriations to the Schools will be less than the School Board has planned in its adopted budget. |
|
| | | | | | | | Talking Points:
| Subsequent to the Board's adoption of the FY 2018 Budget in April, the School Board adjusted revenue projections to include use of the Schools’ health insurance reserve for health insurance costs as its members worked to balance and adopt the Schools' FY 2018 Budget. A budget adjustment and appropriation are necessary to match the County’s budget to the budget adopted by the School Board. There is, of course, no change in the assumption of local transfer to the Schools which remains budgeted at $124,075,315 for FY 2018. |
|
|