Minutes 10/12/1999 - Laserfiche WebLink

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October 12, 1999 2.31 Set a Public Hearing for October 26, 1999, on a request from American Tower Corporation for Triton PCS, Inc. for a Special Use Permit to construct a telecommunications fadlily at 900 Rives Road. Accepted and appropriated funding for the Schools received from various grant awards that ware not a part of the FY1999-2000 Budget. The following Staff Reports were presented: Wade Bartlett, Director of Finance - Finandal Report for month endin.a 07/31/99: "The majority of the final adjustments have been received from the auditors. All amounts are subject to revision once the auditors have completed their review. Revenues in all funds are following normal patterns. Expenditures are also following historical patterns. General Fund actual expenditures exceed the anticipated amounts due to payments of contracts, insurance premiums and support to various outside agencies (MURA, Virginia Museum of Natural History, etc.). As the Fiscal Year develops, this variance will disappear. Expenditures for all other funds are significantly less than antidpated. This is normal for all funds due to low expenditures on capital items and maintenance costs. Capital items have long lead times while maintenance costs occur sporadically. Overall fund balances increased by $1,586,962. The budget increases occurred in the Electric, Capital Reserve, Street Maintenance and Refuse Funds. The increase in the Capital Reserve Fund was due to receipt of about $550,000 in reimbursement for cost associated with Clearview Business Park. The increase in the Street Maintenance Fund was due to the combining of that Fund with the General Fund. The increases in the Electric and Refuse Funds were mainly caused by the low spending rates. In all 12 funds improved, five declined and one remained unchanged." Financial Re~ort for month endin.a 08/31/99: "The majority of the final adjustments have been received from the auditors. All amounts are subject to revision once the auditors have completed their review. Revenues are exceeding expectations in all but the School and General Fund. Historically, revenue collections in the enterprise funds exceed projections early in the Fiscal Year. This is due to weather conditions, and this Fiscal Year is following the historical pattern. General Fund Revenue's lag behind expectations early in the Fiscal Year due to an inability to collect Real Estate and Personal Property taxes. Expenditures in all Funds are below expectations. This is a normal occurrence at the beginning of a Fiscal Year. The inability to bid, aware and complete large projects/contracts during the first few months of the