Title
Resolution Appropriating Funds for Uncompleted Capital Projects Funded by the General Fund, Stormwater Management Fund and the Economic Development Fund
Purpose
PURPOSE/BACKGROUND:
At the end of each fiscal year, all capital projects (except projects funded with bond proceeds) that have a remaining balance are closed into the Fund Balance of the project's funding source. In order to complete these projects, the remaining funds must be re-appropriated by City Council.
Discussion:
The attached document contains a list of projects and amounts to be re-appropriated as requested by the project coordinator.
Impact:
The total amount requested for re-appropriation is as follows: General Fund - $14,505,812.19; Stormwater Management Fund - $7,640,246.07 and Economic Development Fund - $175,066.16. These funds are being re-appropriated to complete projects started in previous fiscal years, but were not completed by the end of Fiscal Year 2016.
Recommendation:
Rec
Approve.
Body
NOW, THEREFORE, BE IT RESOLVED, that the City Council of the City of Hampton, Virginia re-appropriates $14,505,812.19 from the Committed General Fund Balance; $7,640,246.07 from the Stormwater Management Fund Balance; and $175,066.16 from the Economic Development Fund Balance to complete projects on the attached list for Fiscal Year 2017.