Title
Ordinance to Adopt a Budget and Appropriate Monies for the Capital Budget for the City of Hampton for Fiscal Year 2017 beginning July 1, 2016 and Ending June 30, 2017
Purpose
PURPOSE/BACKGROUND:
This ordinance adopts a budget and appropriates monies for the Capital Budget as presented in the City Manager's Recommended Budget for Fiscal Year 2017.
Discussion:
This ordinance adopts the Capital Budget and appropriates monies for the Capital Budget for fiscal year 2017 as was duly advertised in the Daily Press on April 17, 2016 and April 24, 2016. The budget is based on the first year presented in the 5-year Capital Improvement Plan as presented in the City Manager's Recommended Budget for Fiscal Year 2017. The budget includes both revenues and expenditures. The revenue sources include $15,913,623 in General Fund Revenue sources and $28,626,997 in Other Revenue sources. Pursuant to Hampton City Code Sec. 2-50, no ordinance appropriating money exceeding $5,000,000 shall be passed on the same day as its introduction. This ordinance is being introduced on May 4, 2016. Approval will be requested at Council's meeting on May 11, 2016.
Impact:
The total Capital Budget is $44,540,620.
Recommendation:
Rec
May 4, 2016: Approve for First Reading Only.
May 11, 2016: Final Approval.
Body
BE IT ORDAINED by the City Council of the City of Hampton, Virginia that the attached budget is approved and appropriations are hereby made for the Capital Budget for the fiscal year 2017 beginning July 1, 2016 and ending June 30, 2017.