Item Coversheet

Spotsylvania County
Board of Supervisors Agenda
Executive Summary



Meeting Date:
August 13, 2019
Title:
Adjustment to FY 2019 General Fund Revenue Budgets to Match to Mid-Year/Third-Quarter Projections
Type:
Action
Agenda Title:

Adjustment to FY 2019 General Fund Revenue Budgets to Match to Mid-Year/Third-Quarter Projections

Recommendation:
Staff recommends approval of the attached budget adjustments.
Summary:

Staff requests the Board’s approval to adjust the FY 2019 Budget to reflect the revenue projections submitted in the mid-year/third quarter report to the Board in early April and  as noted on the attached Recommended Mid-Year/3rd Quarter Revisions – FY 2019 General Fund Revenues report/budget adjustment.

 

We use revised budget figures for multiple official reports and without this budget adjustment, various reports will not reflect the appropriate estimates for revenues are determined in the mid-year/third quarter report previously provided to the Board. 

Committee/Commission Summary:
Finance Committee
Review Date:
July 18, 2019
Status:Approved
Financial Impact:
Please see attached budget adjustment.
Staff Contacts:
Bonnie Jewell, Deputy Director of Finance for Budget
Consequence of Denial/Inaction:
The revised FY 2019 Budget which will be shown in the FY 2019 Comprehensive Annual Financial Report and various budget reports will not reflect the appropriate estimates for revenues as determined in the mid-year/third quarter analysis.
ATTACHMENTS:
File NameDescriptionType
Mid-Yr_..._3rd_Q_Revenue_Adjustments_-_Budget_Adjustment.pdfBudget AdjustmentBudget Amendment