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<br />M Martinsville <br /> <br />City Council <br />Agenda Summary <br /> <br />Meeting Date: <br />Item No: <br />Department: <br />Issue: <br /> <br />August 8, 2006 <br />5. <br /> <br />Finance <br /> <br />Review of Consent Agenda: <br />A. Accept and appropriate funds in the General Fund <br />and Capital Reserve Fund for FY06 budget and in the <br />General Fund for FY07 budget. <br /> <br />Summary: <br /> <br />The attachment adjusts the FY06 and FY07 budgets. <br /> <br />For FY06, $45,000 from the HUD is being accepted to pay for a study of the <br />Economic Development opportunities in the West Church Street Corridor. In <br />addition, $1,045 from the state is being accepted for maintenance of the Armory. <br />Budget is adjusted to reflect the Note and Expenses associated with renovation of <br />Patrick Henry School. Adjustment to reflect the refunding of a 1999 Bond. <br /> <br />The FY07 budget is being adjusted by acceptance of $1,111 in forfeited assets, <br />donations for the Police and Fire departments and reimbursement of prior <br />expenses by the Registrar in the amount of$11,362. <br /> <br />Attachments: <br /> <br />Spreadsheet <br /> <br />Recommendations: Place on next agenda <br />