Agenda 12/09/2008 (2) - Laserfiche WebLink

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November 25, 2008 fIxtures instead of solar and Chris will share with Council more details as to how different lights would look before a decision is made on the light itself. Council heard the monthly fInance report from Clarence Monday as follows: Through the end of October 2008, Fiscal Year 2009, our revenues exceeded the anticipated budget by $488,826. None of the major funds fell short of their anticipated goals at this time, partly due to increases in some unanticipated revenues and early payment of real estate taxes due in December. Future reports may reflect a leveling-off of higher than anticipated revenues. Overall expenditures were $1,195,275 less than anticipated for through the end of October. The only fund to deviate from its anticipated budget was the Sewer Fund, which expended $74,299 more than anticipated. This amount is primarily due to the continuing capital project started in FY08. As previously reported to Council on October 28th the utility budgets are now tracking more accurately due to the re-appropriations approved at the October 14th Council meeting. Continuing efforts by all departments to be conservative in their purchasing practices is reflected in the lower than anticipated expense. On a motion by Gene Teague, seconded by Danny Turner, with a 5-0 vote, Council approved the following consent agenda to accept and appropriate funds In the General Fund FY09: ORG OBJECT FY09 GENERAL FUND 01101917 442402 01221082 506105 01101917 442401 01311085 506078 01102926 436430 01331108 503313 01331108 501100 01101917 4YOIIO 01715213 503190 01715213 506007 Total General Fund: BUDGET ADDITIONS FOR 11/25/2008 DESCRIPTION DEBIT CREDIT Categorical Other State - Contiscated Assets - CAlly Comm Ally - ConI' Assets State Categorical Other State - Conliscated Assets - Pul ice Pulice Dept - ConI' Assets State Categorical - Federal - SCAAP Funds Sheriff - Corrections - Prof Services - Grant Preparation Sheriff - Corrections - Full-Time Wages Categurical Other State - Natinoal Guard Armory Armury - Prof. Services - Bldg/Ground Maint Annory - Repairs & Maintenance (Renuvations to National Guard Armory) 430 430 1,289 1,289 Y03 181 722 8,297 2.3 72 5,'125 10,919 10,919 On a motion by Kimble Reynolds, Jr., seconded by Gene Teague with the following 4-1 recorded vote: Mrs. Lawson, aye; Mr. Reynolds, aye; Mr. Stroud, aye; Mr. Teague, aye; and Mr. Turner, nay, Council adopted the following resolution declaring the City's intention to authorize proposals for fInancing of capital expenditures and for the City to repay itself from such loan proceeds, including pre- paid and related expenditures: RESOLUTION m' CITY COUNCIL OF CITY 01<' MARTINSVILLE. VIRGINIA DECLARI~G ITS INTENTION TO REIMBURSE ITSELF FROM THE PROCEEDS OF O:'liE OR MORE TAX-EXEMPT FINANCIl'IGS FOR CERTAIN EXPENDITURES MADE A:"iD/OR TO BE 'lADE IN CONNECTION WITH CITY OF MARTINSVILLE Ml'NICIPAL FACILITIES AND AIITHORIZING REQUEST FOR PROPOSALS FOR SUCH FI:'\iANCING WHEREAS, the City of Martinsville (the "Issuer") is a body politic and corporate organized aid existing under the laws of the Commonwealth of Virginia; and WHEREAS, the Issuer has paid beginning no earlier than September 26, 2008 (60 days prior to the date of adoption of this resolution), and will pay, on and after the date hereof certain expenditures ("'Expenditures") for the acquisition, construction, expansion, renovation and equipping of City of Martinsville municipal facilities, including a garagc addition, sludge press, street sweeper and related facilities (the "Project"); and