April 12, 2016

MEMO TO:           Mayor Barber and Board of Commissioners

FROM:                  Frank A. Rush, Jr., Town Manager

SUBJECT:           Budget Amendment – General Fund

The Board of Commissioners is asked to approve the attached General Fund budget amendment  at the April 12  meeting.  The budget amendment appropriates an additional $34,707 to the FY 15-16 budget.

The most significant items included in the attached budget amendment are as follows:

  • the appropriation of $12,010 of insurance proceeds for the replacement of a damaged slide at the Blue Heron Park playground,

  • the appropriation of $2,479 of donations to the Fire Department specifically for a beach wheelchair purchase, and

  • the appropriation of $20,000 to the Public Works Department primarily to cover unanticipated storm water management expenses associated with significant rainfall between October 2015 and February 2016; the additional funds were used for additional pump purchases, engineering expenses, and also for small-area drainage improvements in impacted locations.

Essentially, additional electricity sales tax revenues are appropriated for the additional Public Works expenditures.  Electricity sales tax revenues continue to exceed the Town’s original revenue estimate, and we are now on track to bring in nearly $500,000 for the entire FY 15-16.  Prior to the attached budget amendment, the FY 15-16 General Fund budget only relies on $409,514.  Budgeted electricity sales tax revenues will increase to $429,732 if the attached budget amendment is approved. 

I recommend approval of the attached budget amendment.