HomeMy Public PortalAbout1992_09_08_R171The Town of
Leesburg,
Virginia
RESOLUTION NO.
A RESOLUTION:
PRESENTED September 8, 1992
92-171 ADOPTED September 8, 1992
AUTHORIZING A TRANSFER OF $50,000 FROM THE UNAPPROPRIATED
FUND BALANCE OF THE GENERAL FUND INTO THE AIRPORT FUND
WHEREAS, staff reported to the Town Council Finance Committee on August 6, 1992, that a
temporary transfer of $50,000 from the unappropriated fund balance of the General Fund into the Airport
Fund to provide for operating expenses, due to a shortfall in anticipated revenues; and
WHEREAS, both the Town Council Administration and Public Works Committee and the Airport
Commission have recommended this transfer, on September 1, 1992 and September 3, 1992 respectively;
and
WHEREAS, the Finance Committee and the Airport Commission will continue to discuss and
examine airport revenues, expenditures, and policies for the collection of debts, to improve the cash flow
situation at Leesburg Municipal Airport; and
WHEREAS, the Town Council remains committed to continuing to support economic
development benefits that derive from the town-owned Leesburg Municipal Airport:
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia as follows:
A transfer of $50,000 from the unappropriated fund balance of the General Fund into the Airport
Fund is hereby authorized. These funds shall be reappropriated to the General Fund should the Airport
Fund generate revenues in excess of projections.
PASSED this 8th day of September, 1992.
ATTEST:
Clerk of Council
James E. Clem, Mayor
Town of Leesburg
R:airtrans