City of Alexandria, Virginia
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MEMORANDUM
DATE: APRIL 2, 2014
TO: THE HONORABLE MAYOR AND MEMBERS OF CITY COUNCIL
FROM: RASHAD M. YOUNG, CITY MANAGER/s/
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Introduction and First Reading. Consideration. Passage on First Reading of a Supplemental Appropriation Ordinance for the Support of the City Government for FY 2014.
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ISSUE: Consideration of a Supplemental Appropriation Ordinance for the support of the City government for FY 2014.
RECOMMENDATION: That City Council pass this proposed Ordinance (Attachment 1) on first reading and schedule it for public hearing, second reading, and final passage on Saturday April 12, 2014.
DISCUSSION: This Ordinance includes the appropriation of City Grants and Capital Funds; the transfer of General Fund appropriations between various departments and the appropriation of Affordable Housing Funds.
(1) Appropriation of grant revenues authorized and adjusted but not appropriated in Fiscal Year 2014. The appropriation of $1,664,158 of grant revenue accepted or adjusted by the City in FY 2014, for specific programs, but not yet appropriated.
(2) Transfer of budget authority between various departments. The transfer of budget authority between various City departments establishes budget authority in the department in which the expense is incurred or the program or activity is carried out. This appropriation includes the transfer of $165,000 from a Non-Departmental account to Housing which represents real estate tax revenue dedicated to affordable housing initiatives. Of the $2.0 million generated from the $.006 real property tax dedication, $1.6 million is used for debt service. In FY 2014, $165,000 was set aside for future debt service and budgeted in a Non-Departmental account. It is anticipated that additional debt will be issued for affordable housing related ...
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