Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Staunton finance director recommends appropriating FY24 carryover to FY25 CIP; council gives direction to hold remainder in undesignated CIP
Summary
Finance staff recommended using $2.9 million of FY24 carryover to fund the FY25 capital improvement program and reappropriating three smaller FY23 amounts; council gave staff consensus to include CIP funding on Budget Amendment 3 and to hold remaining funds in an undesignated CIP reserve.
Finance Director Melissa Moyers presented a year-end general fund overview to Staunton City Council on Jan. 9 and recommended appropriating carryover funds to the city’s FY2025 capital improvement program (CIP).
Moyers said the FY24 carryover is roughly $5.4 million, with the largest portion attributable to property-tax variances. She recommended allocating $2.891 million to the FY25 CIP and reappropriating several smaller FY23 carryover amounts that did not get encumbered: Valley Supportive Housing, Wharf Tree Replacement and Entrance Corridor Overlay. Moyers also said a designated parks-and-rec public-use reserve will be approximately $4…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
