Title
Ordinance to Adopt a Budget and Appropriate Monies for the General Expenditures of the Fleet Services Fund of the City of Hampton for Fiscal Year 2018 beginning July 1, 2017 and ending June 30, 2018
Purpose
PURPOSE/BACKGROUND:
This ordinance adopts the Fleet Services Fund budget as presented in the City Manager's Recommended Budget for FY 2018.
Discussion:
This ordinance adopts a budget and appropriates monies for the general expenditures of the Fleet Services Fund for the City of Hampton for Fiscal Year 2018. The Fleet Services Fund is one of four (4) Internal Service Funds. The budget includes both revenues and expenditures. The revenue sources are: Maintenance Services - $328,155; Sales-Labor - $1,740,431; Sales (Gas/Oil, Sublet, Parts/Miscellaneous/Tires) - $4,850,203; Handling Fees (Gas, Oil, Sublet, Parts/Tires, Disposal) - $754,197; Transfer from Equipment Replacement Fund - $70,565; Transfer from Retained Earnings - $52,189; Motor Pool - $20,585 and Miscellaneous Revenue-Insurance Recovery - $25,000.
The public hearings necessary to approve the budget were duly advertised in the Daily Press on April 16, 2017 and April 23, 2017. Pursuant to Hampton City Code Sec. 2-50, no ordinance appropriating money exceeding $5,000,000 shall be passed on the same day of its introduction. This ordinance is being introduced May 3, 2017. Approval will be requested at the City Council's meeting on May 10, 2017.
Impact:
The total budget for the Fleet Services Fund is $7,841,325.
Recommendation:
Rec
May 3, 2017: Approve for First Reading Only.
May 10, 2017: 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 Fleet Services Fund for the City of Hampton for Fiscal Year 2018 beginning July 1, 2017 and ending June 30, 2018.