TITLE: Title
Amendment to the FY2019-20 Adopted Budget
PURPOSE: To appropriate additional funding received by the Town, appropriate unexpended 2018-19 Powell Bill funds for expenditure in 2019-20, and authorize the purchase of an additional garbage truck.
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DEPARTMENT: Finance
CONTACT INFORMATION: Arche McAdoo, 918-7439 and Cary McNallan, 918-7301
INFORMATION: Since the adoption of the FY2019-20 Annual Budget on June 18, 2019, the Town has received notification of additional funding for the Alcohol Beverage Commission (ABC) Board Grant. The final allocation awarded to the Town by the ABC Board is $19,000, $2,000 more than currently budgeted.
The Town did not use all of its Powell Bill allocation in 2018-19. As reported to the NC Department of Transportation in August 2019, the Town spent $241,741 of its total Powell Bill allocation of $484,000. The $242,259 unexpended funds reverted to fund balance on June 30, 2019. The Board needs to now appropriate these funds from the general fund balance for use in 2019-20.
Since the adoption of the FY20 budget, a fire destroyed one of the Town’s sanitation trucks and it is necessary that this be replaced to provide adequate service to the public. This truck was not scheduled for replacement in FY20.
FISCAL & STAFF IMPACT: The total General Fund Adopted Budget for 2019-20 will increase by $261,259 for a new total of $ $24,838,267. The total Capital Fund Adopted Budget will increase by $297,000 for a new total of $22,863,145
RECOMMENDATION:r That the Board of Aldermen adopt the budget ordinance amendment set out in Attachment A, and the Capital Project Ordinance set out in Attachment B.