Details for Notice of Public Hearing

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NOTICE OF PUBLIC HEARING PROPOSED BUDGET AMENDMENT SYNOPSIS FISCAL YEAR JULY 1, 2021 JUNE 30, 2022 Per Virginia Code Sections §15.2-2507, 15.2-2504 and §15.2-1427, the Council for the Town of Abingdon will conduct a public hearing at its next regular meeting to be held on Thursday, June 23, 2022 at 2:30 p.m., in the Arthur Campbell Room, 133 West Main Street, to adopt an ordinance amending Town of Abingdon's fiscal year 2021-2022 annual budget. Proposed amendment includes; the elimination of a separate street maintenance fund with subsequent combination of said fund with general fund, additions to revenue from DHCD grants, meals & lodging taxes, use of general fund surpluses in lieu of previous bond proceeds, and miscellaneous adjustments and reclassifications. The total general fund budget amendment will increase the budgeted expenditures and offsetting revenues by $7,048,056.00 General Fund Revenue be increased by: $ 7,048056.00 General Property Taxes $ 70,345 Other Local Taxes $1,421,443 Fines & Forfeitures $ 2,234 Use of Money & Property $ 17,696 Charges for Services $ 149,221 Donations $ 98,000 Revenue-Other Agencies $2,075,368 Use of GF Reserves $3,975,000 General Fund Revenue be decreased by: Miscellaneous Revenue $ (130,211) Recovered Costs $ (625,000) Permits $ (6,040) General Fund Expenses increased by: $7,048056.00 General Government Expenses $ 270,721 Public Works & Recreation Expenses $ 551,063 Transfer to CIP Fund & Other Expenses $ 6,268,475 General Fund Expenditures increased by: Public Safety Expenses $ (42,209) ________________________ Mike Cochran, Town Manager

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