Subject:
Title
Consider the reappropriation of encumbrances that were outstanding at the end of Fiscal Year 2018 in the amount of $3,975,875.94
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Presented By: City Staff
Recommendation and Review
At the end of Fiscal Year 2018 there were outstanding encumbrances for purchase orders which were issued prior to June 30, 2018. These purchase orders were carried forward to the new Fiscal Year 2018 budget; however, the budgeted funds lapsed as of June 30, 2018. The purchase orders were for goods and/or services which were contracted for but not received prior to June 30, 2018. The purpose of the supplemental appropriation is to request that the funds for these outstanding purchase orders be reappropriated to the current fiscal year’s budget.
This supplemental appropriation 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.