Subject:
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Consider the reappropriation of encumbrances requested by department heads and the School Board that were outstanding at the end of Fiscal Year 2015
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Presented By: City Staff.
Recommendation and Review
At the end of Fiscal Year 2015 there were outstanding encumbrances for purchase orders which were issued prior to June 30, 2015. These purchase orders were carried forward to the new Fiscal Year 2016 budget; however, the budgeted funds lapsed as of June 30, 2015. The purchase orders were for goods and/or services which were contracted for but not received prior to June 30, 2015. The purpose of this supplemental appropriation is to request that the funds for these outstanding purchase orders be reappropriated to the current fiscal year’s budget.
Approval of this request will increase the Fiscal Year 2016 budget by 3,423,374.32. This represents an increase of over 1% of the total city budget. Code of Virginia Section 15.2-2507 requires a public hearing for budget amendments that exceed 1% of the budget.