HomeMy Public PortalAbout2000_06_27_r121 The Town of
Leesburg,
._Virginia
RESOLUTION NO.
A RESOLUTION:
PRESENTED June 27, 2000
2000-121 ADOPTED June 27, 2000
AMENDING THE BUDGET RESOLUTION TO REFLECT THE
ESTABLISHMENT OF A DEBT REDUCTION CONTINGENCY
ACCOUNNT IN THE FY 2001 BUDGET
WHEREAS, the Council established a debt reduction contingency account during the FY
2001 budget development process in the amount of $609,000 to fund capital projects; and
WHEREAS, the Council chose to transfer funds from the General Fund Unreserved Fund
Balance to fund a portion of the contingency account; and
WHEREAS, the amount to be transferred does not reduce the General Fund Unreserved
Fund Balance below the established 14 percent reserve policy set by Council; and
WHEREAS, transferring the funds to the contingency account from the General Fund
Unreserved Fund Balance increases the FY 2001 budget by $251,341 over the amount in the
approved budget resolution; and
intent.
WHEREAS, the approved budget resolution should be amended to reflect the Council's
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia that the
FY 2001 budget is amended by increasing it by $251,341. for a total of $25,772,973.
· Clem, Mayor
Town of Leesburg
PASSED this 27th day of June, 2000.
ATTEST:
PAResolutions\budget adjustment fy2001.doc