HomeMy Public PortalAbout1998_06_09_R135The Town of
Leesburg,
.rgtma
RESOLUTION NO.
A RESOLUTION:
PRESENTED June 9, 1998
98-135 ADOPTED June 9, 1998
APPROVING THE BUDGET AND MAKING APPROPRIATIONS
FOR THE FISCAL YEAR ENDING JUNE 30, 1999
WHEREAS, the budget and tax rates for the fiscal year ending June 30, 1999, have been
presented and reviewed by this Council in accordance with Section 4-2.1:1 (b) of the Town Code
and Section 15.1-160 of the 1950 Code of Virginia, as amended; and
WHEREAS, a public heating on the proposed budget and tax rates was held on April 14,
1998; and
WHEREAS, Council met m budget workshop sessions during the months of April and
May, 1998; and
WHEREAS, the tax rate for 1998 real estate taxes will remain unchanged at $0.22 per
$100 of assessed valuation and personal property taxes will remain unchanged at $1.00 per $100
of assessed valuation.
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia as
follows:
SECTION I. The manager's proposed budget is adopted and appropriations are made to
include the adjustments proposed to the categories and accounts of the general fund in the amount
of $18,049,440, utility fund in the amount of $17,148,396, airport fund in the amount of
$1,403,556 and capital projects funds in the amount of $10,365,316, provided that capital projects
funds appropriations shall remain in effect until the projects are completed.
SECTION II. The town's financial reserve, policy adopted by the Town Council is hereby
amended to allow for a goal of 14% of general-fund expenditures to be targeted as the fund balance
for the town's general fund. The budget for fiscal year 1999 meets this goal.
RESOLUTION:
-2-
ADOPTING BUDGET FY 1999
SECTION III. The manager is authorized to transfer appropriations made herein to
accounts within the same departmental budget as long as the total appropriation for the
departments is not adjusted.
PASSED this 9th day of June, 1998.
ATTEST:
Clerk of Council
J~es E. Clem, Mayor
Town of Leesburg
R: Budget 98