City Council

AGENDA--CITY COUNCIL -- CITY OF MARTINSVILLE, VIRGINIA Council Chambers – Municipal Building 7:00 pm CLOSED SESSION 7:30 pm regular session Tuesday, January 28, 2014 7:00--Closed Session 1. Items to be considered in Closed Session, in accordance with the Code of Virginia, Title 2.2, Chapter 37— Freedom of Information Act, Section 2.2-3711(A)—Closed Meetings, the following: A. Appointments to Boards and Commissions as authorized by Subsection 1. 7:30—Regular Session Invocation & Pledge to the American Flag-Vice Mayor Gene Teague 1. Consider approval of minutes of November 25, 2013 tour & November 25, 2013 meeting. (2 mins) 2. Hear a staff update on city utilities. (20 mins) 3. Consider approval of resolution regarding Route 58 funding. (5 mins) 4. Consider approval of resolution setting public hearing regarding refinancing bonds. (10 mins) 5. Consider approval of Preliminary Ordinance on first reading regarding refinancing bonds. (10 mins) 6. Hear Finance Report. (15 mins) 7. Business from the Floor This section of the Council meeting provides citizens the opportunity to discuss matters, which are not listed on the printed agenda. In that the Council meetings are broadcast on Martinsville Government Television, the City Council is responsible for the content of the programming. Thus, any person wishing to bring a matter to Council’s attention under this Section of the agenda should: (1) come to the podium and state name and address; (2) state the matter that they wish to discuss and what action they would like for Council to take; (3) limit remarks to five minutes; (4) refrain from making any personal references or accusations of a factually false and/or malicious nature. Persons who violate these guidelines will be ruled out of order by the presiding officer and will be asked to leave the podium. Persons who refuse to comply with the direction of the presiding officer may be removed from the chambers. 8. Comments by members of City Council. (5 mins) 9. Comments by City Manager. (5 mins)  City Council Agenda Summary Meeting Date: January 28, 2014 Item No: 1. Department: Clerk of Council Issue: Consider approval of minutes of City Council meetings November 25, 2013 tour and November 25, 2013 Neighborhood meeting. Summary: None Attachments: November 25, 2013 minutes-tour November 25, 2013 minutes Recommendations: Motion to approve minutes as presented November 25, 2013 The City Council of the City of Martinsville, Virginia, assembled on November 25, 2013 at 4:30 P.M. to tour the Southside area neighborhoods prior to their quarterly Neighborhood Focus Meeting scheduled for November 25, 2013 at 7:30 pm at Fuller Memorial Baptist Church, 1204 Askin St. Council Members present for the tour included: Mayor Kim Adkins, Vice Mayor Gene Teague, Council Member Sharon Brooks Hodge and Council Member Mark Stroud. Council Member Danny Turner was absent. Others present on the tour included: Leon Towarnicki, Andy Powers, Officer Coretha Gravely, Martinsville Bulletin reporter and three citizens. No other business was conducted during the tour and immediately after the tour ended, Council members disbursed. _______________________________ __________________________ Brenda Prillaman Kim Adkins Clerk of Council Mayor November 25, 2013 Martinsville City Council Neighborhood Meeting for the Southside area neighborhoods was held on November 25, 2013, at Fuller Memorial Baptist Church, 1204 Askin Street, Martinsville, VA at 7:30 PM, with Mayor Kim Adkins calling the meeting to order. Council members present included Gene Teague, Mark Stroud, Sr., Sharon Brooks Hodge and Danny Turner. Staff present: Leon Towarnicki, Brenda Prillaman, Eric Monday, Coretha Gravely, Eddie Cassady, Kenneth Draper, Wayne Knox, Danny Wimmer and Andy Powers. Pastor Fred Hardin led the invocation. Mayor Adkins then asked Andy Powers to present his property maintenance report and give an update on Council’s 4:30pm tour of the Southside area. He reported that city staff is continuing working on issues to speed up the process to shorten the time it takes to resolve a complaint. Mayor Adkins then opened the floor for public comment. Comments: William Eggleston- Roundabout Rd-concerns with trash on vacant lot and drugs and gangs; Linda Lawrie-1050 Graves St.-concerns about rental properties with broken windows; Patty Wilcox-1047 Graves St.- concerns with construction of a handicap ramp being built; Howard Hairston-1307 Askin- barricade needs to be replaced at end of Forest Street where it turns onto Childress Drive; Angela Harris-Quincy Street-concerns with numerous cats at one residence causing a nuisance and questions about indecent exposure issue for individuals and the way they wear their clothes; Lloyd Powell-1016 Adele St.-sewer rat problems and junky rental properties, particularly one property on Childress Drive owned by a city employee; Ruby Stultz-Pony Place-concerns with recent shooting in the neighborhood, suggested a police command center be set up, need for guardrails and fencing at railroad underpass on Koehler hill; Jean Price-question on abandoned cars on Myrtle Road; Council asked the city attorney to look into indecent exposure ordinance and the issue of limiting number of vehicles allowed in a certain square footage; Al Martin-1006 Independence Drive-encouraged the city to run snow plows out both Independence Drive and Fishel Street when they are leaving the city shop and he asked that the right of way be cleared off sewer lines near his residence. There being no further business, Mayor Adkins adjourned the meeting at 8:35 pm. _______________________________ __________________________ Brenda Prillaman Kim E. Adkins Clerk of Council Mayor  City Council Agenda Summary Meeting Date: January 28, 2014 Item No: 2. Department: Utilities: Electric, Water & Sewer Issue: Hear a quarterly update from staff concerning Utilities. Summary: City Staff will provide this update. Attachments: None Recommendations: Information only; No action necessary  City Council Agenda Summary Meeting Date: January 28, 2014 Item No: 3. Department: City Council Issue: Consider approval of a resolution regarding support of funding for the remainder of the Route 58 project. Summary: The attached resolution shows the City of Martinsville’s support of the completion of the Route 58 corridor project to I-77 and encourages the Commonwealth of Virginia to authorize and fund its completion. The Henry County Board of Supervisors is also considering approval of a similar resolution at their meeting. Attachments: Resolution Recommendations: Motion to adopt resolution and forward to state legislators.  RESOLUTION WHEREAS, In 1989, with the passage of the U.S. Route 58 Corridor project, the Virginia General Assembly envisioned “Super 58,” a four- lane divided highway connecting communities along the southern border of Virginia from Virginia Beach to the western end of Virginia; and WHEREAS, the project was and continues to be recognized as vital to provide viable commercial access, expand development opportunities, and create a seamless east-west freeway for the traveling public; and WHEREAS, constructing the segments between Stuart and Hillsville will complete “Super 58” from Virginia Beach to I-77 ; and WHEREAS, completing the connection of the Route 58 corridor to I-77 will provide new incentive and opportunity for development in the local region, including the City of Martinsville; and WHEREAS, completing the connection of the Route 58 corridor to I-77 will provide a less-congested alternative route to the Hampton Roads regions and resort destinations; and WHEREAS, the Cityof Martinsville believes completing the connection of the Route 58 corridor to I-77 will be beneficial to the prosperity of the City of Martinsville and to all of the Commonwealth: NOW, THEREFORE, BE IT RESOLVED, on this 28th day of January 2014 that the Martinsville City Council hereby expresses its support of the completion of the Route 58 corridor to I-77 and encourages the Commonwealth of Virginia to authorize and fund its completion. ____________________________ Kim Adkins, Mayor Martinsville City Council  City Council Agenda Summary Meeting Date: January 28, 2014 Item No: 4. Department: Finance Issue: Consider approval of a Resolution setting a Public Hearing and approving actions related to potential issuance of refunding bonds Summary: This Resolution authorizes setting a public hearing and directs necessary actions related to potential issuance of refunding bonds. Carter Bank & Trust, as holder of the 2009 Bonds, has agreed to refinance these bonds at a savings of over $100,000 in debt service over the life of the financing. The time period covered by the refinancing matches the original and does not extend the length of debt service. Tentative project timeline: 1. January 28, 2014 – Adoption of Resolution to set public hearing, and of Preliminary Ordinance on first reading. 2. February 11, 2014 – Adoption of Preliminary Ordinance on second reading, and of Final Ordinance on first reading. 3. February 25, 2014 – Public hearing on bonds, adoption of Final Ordinance on second reading. 4. February 28, 2014 - Closing Attachments: Resolution Recommendations: Staff recommends motion for adoption of the Resolution and authorizing staff to continue with actions as necessary to finalize the refinancing as described.  RESOLUTION SETTING PUBLIC HEARING AND APPROVING RELATED ACTIONS RELATED TO POTENTIAL ISSUANCE OF REFUNDING BONDS WHEREAS, the City of Martinsville, Virginia (the "City") has previously issued its (a) General Obligation Bond (Capital Project), Series 2009A (the “2009A Bond”) in order to finance the costs of the acquisition and equipping of an electric utility truck, (b) its General Obligation Bond (Capital Project), Series 2009B (the “2009B Bond”) in order to finance certain City landfill improvements and (c) its General Obligation Refunding Bond, Series 2009A (the “2009A Refunding Bond” and, together with the 2009A Bond and the 2009B Bond, the "2009 Bonds") in order to refinance school and redevelopment projects in the City; and WHEREAS, Carter Bank & Trust, as holder of the 2009 Bonds, has agreed to refinance the 2009 Bonds, and such refinancing, including the costs of issuance to be incurred in connection with such refinancing, will result in debt service savings to the City (the “2014 Refinancing”); and WHEREAS, the 2014 Refinancing would be accomplished through the issuance by the City of its general obligation bonds, Series 2014 in a principal amount not to exceed $2,650,000 (the “2014 Bonds”). NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF MARTINSVILLE, VIRGINIA: 1. The City Manager, Finance Director, City Attorney, bond counsel to the City and all other officers, employees and agents of the City are hereby authorized and directed to take such further action deemed necessary or desirable to facilitate consideration of the issuance of the proposed 2014 Bonds, including but not limited to the publication and broadcasting, as required by the City Charter, of notice of a public hearing to be held prior to final authorization by the City Council of the issuance of the 2014 Bonds. The public hearing shall be held on February 25, 2014 at 7:30 p.m. at the City Council Chambers, Second Floor, City of Martinsville Municipal Building, 55 West Church Street, Martinsville, Virginia 24112. All actions of the City Manager, Finance Director, City Attorney, bond counsel and all other officers, employees and agents of the City in furtherance of the issuance of the 2014 Bonds are hereby approved and ratified. 2. This Resolution shall take effect immediately. {V0104906.1 004086-082542 } 1  CERTIFICATE The Members of the Council voted as follows on the foregoing Resolution: Ayes Nays Absent Abstentions Adopted this 28th day of January, 2014. _________________________________ The undersigned Clerk of the City Council of the City of Martinsville, Virginia hereby certifies that the foregoing constitutes a true and correct extract from the minutes of a meeting of the City Council held on January 28, 2014, and of the whole thereof so far as applicable to the matters referred to in such extract. I hereby further certify that such meeting was a regularly called meeting and that, during the consideration of the foregoing Resolution, a quorum was present. Dated this _____ day of ___________, 2014. ________________________________________ Clerk, City Council of City of Martinsville, Virginia {V0104906.1 004086-082542 } 1  City Council Agenda Summary Meeting Date: January 28, 2014 Item No: 5. Department: Finance Issue: Consider approval of a Preliminary Ordinance on first reading, for the Refunding with Carter Bank Summary: At this meeting, if Council approves the Resolution authorizing a Public Hearing and directing necessary actions related to potential issuance of refunding bonds, adoption of this preliminary ordinance on first reading is the next step. Adoption of the preliminary ordinance serves the following purposes: 1. Recites the expediency of the issuance of up to $2,650,000 in principal amount of general obligation bonds. (Expediency does not mean that the Council declares this as a matter of emergency but instead means that the most efficient, effective, and expedient way to provide for such acquisition is by the issuance of refunding general obligation bonds.) 2. Declares the intended use of the Bonds are for municipal purposes. 3. Declares issuance of the Bonds is within the power of the City. 4. Declares the issuance of the Bonds is in the best interest of the City and its citizens. Second reading and adoption of the preliminary ordinance will occur on February 11, along with adoption on first reading of the final ordinance. Three of the City’s outstanding bond obligations, with interest rates somewhat higher than current markets, can be refinanced, saving over $100,000 over the life of the loans. After speaking with the current holder of these particular loans, it was determined that they were willing to reduce the current rates being charged, producing savings to the City without extending the life of the loans. This ordinance authorizes staff to participate in the refunding process. Tentative project timeline: 1. January 28, 2014 – Adoption of Resolution to set public hearing, and of Preliminary Ordinance on first reading. 2. February 11, 2014 – Adoption of Preliminary Ordinance on second reading, and of Final Ordinance on first reading. 3. February 25, 2014 – Public hearing on bonds, adoption of Final Ordinance on second reading. 4. February 28, 2014 - Closing Attachments: Preliminary Ordinance Recommendations: Staff recommends adoption of the Ordinance with a motion and a roll call vote.  CITY OF MARTINSVILLE, VIRGINIA AN ORDINANCE RECITING THE EXPEDIENCY OF THE ISSUANCE OF UP TO $2,650,000 PRINCIPAL AMOUNT OF GENERAL OBLIGATION REFUNDING BONDS OF THE CITY OF MARTINSVILLE, VIRGINIA, AND SETTING FORTH THE PURPOSE, IN GENERAL TERMS, FOR WHICH THE BONDS ARE TO BE ISSUED, THE MAXIMUM AMOUNT OF THE BONDS TO BE ISSUED AND THE MAXIMUM LENGTH OF TIME SUCH BONDS WILL BE OUTSTANDING Adopted on January 28, 2014 (First reading) {V0100874.1 004086-082542 } Be it Ordained by the Council of the City of Martinsville, Virginia: Section 1 - Findings and Determinations The City Council ("City Council") of the City of Martinsville, Virginia (the "City") proposes to issue bonds for the purpose of refunding all or some of the outstanding balances of the City's General Obligation Bond (Capital Project), Series 2009A (the "2009A Bond"), General Obligation Bond (Capital Project), Series 2009B (the "2009B Bond") and General Obligation Refunding Bond, Series 2009A (the "2009A Refunding Bond, and together with the 2009A Bond and 2009B Bond, the "2009 Bonds"), all for municipal purposes, specifically for the original purposes of the 2009 Bonds described herein and for debt service savings. The 2009A Bond financed the costs of the acquisition and equipping of an electric utility truck, the 2009B Bond financed certain City landfill improvements and the 2009A Refunding Bond refinanced school and redevelopment projects in the City. The City Council hereby finds and determines that: (i) the City is in need of funds to be used by the City for the refunding of the 2009 Bonds and for costs of issuance of the Bonds (defined below); (ii) the obtaining of such funds will be for municipal purposes of the City, for the welfare of citizens of the City for purposes which will serve the City and its citizens pursuant to the authority of the City to provide funds for the City’s buildings, facilities and equipment used for municipal purposes; (iii) the most effective, efficient and expedient manner in which to provide such funds to the City is through the issuance of general obligation refunding bonds in an original principal amount not to exceed $2,650,000 to be issued by the City as further described herein (the "Bonds") to be used for the refunding of the 2009 Bonds and for certain costs of issuance of the Bonds; (iv) the issuance of the Bonds is within the power of the City to contract debts, borrow money and make and issue evidence of indebtedness; and, (v) the issuance of the Bonds is in the best interests of the City and its citizens. Section 2 - Description of the Bonds The City Council finds that it is expedient for the City to borrow money and issue the Bonds for the refunding of the 2009A Bond in a maximum principal amount of $118,250, the refunding of the 2009B Bond in a maximum principal amount of $706,250 and the refunding of the 2009A Refunding Bond in a maximum principal amount of $1,825,500. The maximum length of time that the Bonds will be outstanding is seventeen years from the date of issuance of the Bonds. The form and details of the Bonds which are proposed to be issued will be more specifically set forth in a City Ordinance to be entitled “AN ORDINANCE AUTHORIZING THE ISSUANCE OF UP TO $2,650,000 PRINCIPAL AMOUNT OF GENERAL OBLIGATION REFUNDING BONDS OF THE CITY OF MARTINSVILLE, VIRGINIA AND PROVIDING FOR THE FORM, DETAILS AND PAYMENT THEREOF," which will be introduced before the Council and considered for final passage following a public hearing on the issuance of the Bonds. {V0100874.1 004086-082542 } Section 3 - Further Actions Authorized The City Manager, City Finance Director, Clerk of the Council, City Treasurer, City Attorney, Sands Anderson PC as bond counsel to the City, Davenport & Company LLC as financial advisor to the City and all other officers, employees and agents of the City are hereby authorized and directed to take any and all such further action as shall be deemed necessary or desirable to facilitate consideration of the issuance of the Bonds, including but not limited to the publication and broadcasting of a notice of public hearing to be held prior to final authorization by the City Council of the issuance of the Bonds. All actions of the City Manager, City Finance Director, Clerk of the Council, City Treasurer, City Attorney, bond counsel to the City, the City’s financial advisor and all other officers, employees and agents of the City in furtherance of the issuance of the Bonds and the refunding of the 2009 Bonds are hereby approved and ratified. Section 4 - Invalidity of Sections If any section, paragraph, clause or provision of this Ordinance shall be held invalid or unenforceable for any reason, the invalidity or unenforceability of such section, paragraph, clause or provision shall not affect any of the remaining portions of this Ordinance. Section 5 - Headings of Sections The headings of the sections of this Ordinance shall be solely for convenience of reference and shall not affect the meaning, construction, interpretation or effect of such sections of this Ordinance. Section 6 - Effective Date and Filing of Ordinance Council hereby declares in the public interest that this Ordinance shall become effective immediately upon its passage. A copy of this Ordinance, certified by the Clerk of the Council, shall be filed with the Clerk of the Circuit Court of the City of Martinsville, Virginia. {V0100874.1 004086-082542 } 2 The Members of the Council voted as follows on the foregoing Ordinance: Ayes Nays Absent Abstentions Adopted this 28th day of January, 2014 (first reading). _________________________________ The undersigned Clerk of the City Council of the City of Martinsville, Virginia hereby certifies that the foregoing constitutes a true and correct extract from the minutes of a meeting of the City Council held on January 28, 2014, and of the whole thereof so far as applicable to the matters referred to in such extract. I hereby further certify that such meeting was a regularly called meeting and that, during the consideration of the foregoing Ordinance, a quorum was present. Dated this _____ day of ___________, 2014. ________________________________________ Clerk, City Council of City of Martinsville, Virginia {V0100874.1 004086-082542 } 3  City Council Agenda Summary Meeting Date: January 28, 2014 Item No: 6. Department: Finance Issue: Hear Finance Report Summary: FY14 – Revenues & Expenditures through Dec. 31, 2013; Combined Balance Sheet; Projected Fund Balance Exclusive of School and Special Revenue funds, actual revenues were $29,465,151, representing 100.9% of the anticipated $29,188,229 through the second quarter, ending December 31st. Receiving five months proceeds, Local Sales/Use Taxes collected through December 31st are ahead of anticipated by $18,294, for total receipts of $759,294. For information purposes, collections of these taxes through the same time period in FY13 were $753,420. Utility revenues were mixed with Refuse and Water Fund’s receipts being greater than anticipated, and Minet/Fiber Optic, Sewer, Electric Funds’ receipts being less than anticipated, although not by great amounts. Actual expenditures were $31,582,689, which is greater than the anticipated amount by $98,503. The “actual” figures include all outstanding encumbrances of $1,164,353. As of the end of the FY14 second quarter, the current total combined Fund Balance and Net Position is $17,825,081, a decrease from FY13 of $3,301,196. Available cash-on-hand December 31st for City Funds was $12,448,421. If all budgeted and re-appropriated funds for FY14 are realized and expended, the year-end Fund Balance and Net Position is projected to be $15,989,306 – a decrease from FY13 year-end of $5,136,971. Exclusive of Utility Funds and based upon this projection, the unassigned Fund Balance would be $3,009,379, 9.6% of the budgeted General Fund expenditures for FY14. Attachment: FY14 Projected Fund Balance Combined Balance Sheet FY14—1.28.14 Revenue & Expense FY14—1.28.14 Recommendations: Motion to approve financial report.  CITY OF MARTINSVILLE PROJECTED FUND BALANCE 06/30/2014 (12/31/13) Projected Audited Fund Fund Balance & Net Budgeted Budgeted Balance & Net Net Position Revenues Expenditures Transfers Budgeted Position (Decrease) 06/30/13 FY14 FY14 In/(Out) Depreciation 06/30/14 Increase GENERAL 7,229,188 25,843,401 24,911,168 (1,372,728) 6,788,693 (440,495) MEALS TAX 2,236,789 1,900,250 3,311,076 (325,221) 500,742 (1,736,047) CAPITAL RESERVE 834,098 11,142 1,384,207 766,809 227,842 (606,256) TOTAL CAPITAL FUNDS 3,070,887 1,911,392 4,695,283 441,588 728,584 (2,342,303) REFUSE 2,295,374 1,797,000 2,097,136 0 150,000 2,145,238 (150,136) MINET/FIBER OPTIC 0 206,996 577,459 354,605 0 (15,858) (15,858) WATER 748,827 3,306,040 2,339,284 (1,492,345) 250,000 473,238 (275,589) SEWER 1,153,990 4,010,012 3,486,417 (1,354,692) 400,000 722,893 (431,097) ELECTRIC 6,268,839 17,442,745 17,237,986 (1,660,564) 400,000 5,213,034 (1,055,805) TOTAL UTILITY FUNDS 10,467,030 26,762,793 25,738,282 (4,152,996) 1,200,000 8,538,545 (1,928,485) (net position) CAFETERIA 933,528 1,370,150 1,701,710 601,968 (331,560) SCHOOLS 0 15,243,862 21,686,521 6,360,531 (82,128) (82,128) SCHOOL GRANTS 6,714 2,390,492 2,390,492 6,714 0 TOTAL SCHOOL FUNDS 940,242 19,004,504 25,778,723 6,360,531 526,554 (413,688) CDBG (592,879) 156,472 216,362 59,890 (592,879) 0 HOUSING CHOICE 11,809 1,976,900 2,025,343 36,443 (191) (12,000) TOTAL SP REV FUNDS (581,070) 2,133,372 2,241,705 96,333 (593,070) (12,000) TOTAL ALL FUNDS 21,126,277 75,655,462 83,365,161 15,989,306 (5,136,971) Fund Balance Summary: Total Funds: Total by Category: Non-spendable: 1,406,001 Inventory 921,470 Prepaid Items - Gen Fund 6,576 Prepaid Items - Cap Reserve Fund 477,955 Restricted: 183,530 Capital Proj - Meals Tax Fund 121,258 Capital Reserve Fund Project 62,272 Committed to: 2,306,797 CCBC 1,666,700 PART 31,415 Housing Choice 0 Cafeteria Fund 601,968 School Grants Fund 6,714 Assigned to: 545,054 Thoroughfare Constr 0 Capital Reserve Fund 165,570 Meals Tax Fund 379,484 Unassigned: 11,547,924 Non-utility Funds: 3,009,379 Utility Funds (net position): 8,538,545 Totals: 15,989,306 15,989,306 Re-approp not listed above: (1,003,177) (1,003,177) Adjusted unassigned: 10,544,747 Non-utility Funds: 2,134,972 Utility Funds (net position): 8,409,775  City of Martinsville Combined Balance Sheet 12/31/2013 FY2014 As prepared for 1/28/14 meeting CURRENT JUNE 30, 2013 TOTAL LIABILITIES FUND BAL & FUND BAL & DIFFERENCE FUND ASSETS* &RESERVES NET POSITION NET POSITION FROM FY12 GENERAL FUND $ 13,787,985 $ (6,741,873) $ 7,046,113 $ 7,229,188 $ (183,075) MEALS TAX $ 767,854 $ (342,413) $ 425,441 $ 2,236,789 $ (1,811,348) SCHOOL CAFETERIA $ 612,790 $ - $ 612,790 $ 933,528 $ (320,738) REFUSE COLLECTION FUND $ 9,114,024 $ (7,353,141) $ 1,760,883 $ 2,295,374 $ (534,491) MINET/FIBER OPTIC SYSTEM $ (24,809) $ (11,677) $ (36,486) $ - $ (36,486) WATER FUND $ 5,495,440 $ (4,544,836) $ 950,604 $ 748,827 $ 201,777 SEWER FUND $ 4,466,227 $ (3,495,970) $ 970,257 $ 1,153,990 $ (183,733) ELECTRIC FUND $ 15,579,918 $ (9,243,458) $ 6,336,460 $ 6,268,839 $ 67,621 CAPITAL RESERVE FUND $ 388,193 $ - $ 388,193 $ 834,098 $ (445,905) SCHOOL FUND $ 268,121 $ (263,589) $ 4,532 $ - $ 4,532 SCHOOL FEDERAL PROGRAMS $ (119,107) $ (71) $ (119,178) $ 6,714 $ (125,892) CDBG FUND $ (490,311) $ (134,986) $ (625,297) $ (592,879) $ (32,418) HOUSING CHOICE $ 110,769 $ - $ 110,769 $ 11,809 $ 98,960 TOTAL $ 49,957,094 $ (32,132,013) $ 17,825,081 $ 21,126,277 $ (3,301,196) Re-appropriations $ (3,217,179) Adjusted Total: $ 17,909,098 *Re-appropriations for FY13 include $104,816 for Capital Fund Energy Efficiency Project and $1,736,047 for Meals Tax Fund H.S. Renovation Project, leaving $1,376,316 for other projects and grants. RESERVED FUNDS INSURANCE TRUST FUND $ 193,383 $ - $ 193,383 $ 340,524 $ (147,141) INMATE TRUST FUND $ 87,270 $ - $ 87,270 $ 82,597 $ 4,673 Fiduciary Agency Funds: 05-SVRFA $ 32,404 $ 361 $ 32,765 $ 85,447 $ (52,682) 06-Dan River ASAP $ 236,760 $ - $ 236,760 $ 235,584 $ 1,176 08-WPBDC $ 105,511 $ (3,784) $ 101,727 $ 91,285 $ 10,442 15-PRCJTA $ 633,917 $ (1,002) $ 632,915 $ 506,975 $ 125,940 30-BRRL $ 353,586 $ - $ 353,586 $ 207,370 $ 146,216 TOTALS: $ 1,362,178 $ (4,425) $ 1,357,753 $ 1,126,661 $ 231,092  City of Martinsville Consolidated Revenues and Expenditures FY14 - Dec. 31, 2013 (prepared for 1/28/14 meeting) Actual Remaining Difference Budget Anticipated YTD Balance Ant vs. Actual General Fund Revenues $ 29,554,809 $ 14,443,996 $ 15,059,775 $ 14,495,034 104.3% Expenditures 31,368,032 14,960,471 14,754,220 16,613,812 98.6% Excess (deficiency) of revenues over expenditures $ (1,813,223) $ (516,475) $ 305,555 (Fund Bal contrib) Actual Remaining Difference Budget Anticipated YTD Balance Ant vs. Actual Capital Funds Meals Tax Revenues $ 1,900,250 $ 912,500 $ 960,820 $ 939,430 105.3% Expenditures 3,636,297 2,772,167 2,772,167 864,130 100.0% Excess (deficiency) of revenues over expenditures $ (1,736,047) $ (1,859,667) $ (1,811,348) Capital Reserve Revenues $ 777,951 $ 394,547 $ 397,941 $ 380,010 100.9% Expenditures 777,951 921,573 921,573 (143,622) 100.0% Excess (deficiency) of revenues over expenditures $ - $ (527,026) $ (523,632) TOTAL CAPITAL FUNDS: $ (1,736,047) $ (2,386,693) $ (2,334,980) (Fund Bal contrib) Actual Remaining Difference Budget Anticipated YTD Balance Ant vs. Actual Refuse Fund Revenues $ 1,797,000 $ 845,300 $ 868,060 $ 928,940 102.7% Expenditures 2,097,136 941,417 887,105 1,210,031 94.2% Excess (deficiency) of revenues over expenditures $ (300,136) $ (96,117) $ (19,045) MINet/Fiber Optic Fund Revenues $ 561,601 $ 294,250 $ 283,538 $ 278,063 96.4% Expenditures 561,601 341,915 357,331 204,270 104.5% Excess (deficiency) of revenues over expenditures $ - $ (47,665) $ (73,793) Water Fund Revenues $ 3,306,040 $ 1,653,967 $ 1,660,858 $ 1,645,182 100.4% Expenditures 3,779,567 1,632,104 1,516,633 2,262,934 92.9% Excess (deficiency) of revenues over expenditures $ (473,527) $ 21,863 $ 144,224 Sewer Fund Revenues $ 4,010,012 $ 1,930,215 $ 1,882,587 $ 2,127,425 97.5% Expenditures 4,841,109 2,118,346 2,055,633 2,785,476 97.0% Excess (deficiency) of revenues over expenditures $ (831,097) $ (188,131) $ (173,046) Electric Fund Revenues $ 17,442,745 $ 8,713,454 $ 8,351,573 $ 9,091,172 95.8% Expenditures 18,837,700 7,796,193 8,318,026 10,519,674 106.7% Excess (deficiency) of revenues over expenditures $ (1,394,955) $ 917,261 $ 33,547 TOTAL UTILITY FUNDS: $ (2,999,715) $ 654,876 $ (14,319) (Fund Bal contrib)  Consolidated Revenues and Expenditures FY14 - Dec. 31, 2013 Actual Remaining Difference Budget YTD Balance Budg vs. Actual Cafeteria Revenues $ 1,370,150 $ $ 587,286 $ 782,864 42.9% Expenditures 1,701,710 908,023 793,687 53.4% Excess (deficiency) of revenues over expenditures $ (331,560) $ $ (320,738) Schools Revenues $ 21,604,393 $ $ 9,036,798 $ 12,567,595 41.8% Expenditures 21,686,521 9,186,184 12,500,337 42.4% Excess (deficiency) of revenues over expenditures $ (82,128) $ $ (149,386) Federal Programs Revenues $ 2,390,492 $ $ 652,010 $ 1,738,482 27.3% Expenditures 2,390,492 777,902 1,612,590 32.5% Excess (deficiency) of revenues over expenditures $ - $ $ (125,892) TOTAL SCHOOL FUNDS: $ (413,688) $ - $ (596,016) (fund bal contrib) Actual Remaining Budget YTD Balance Special Revenue Funds CDBG Fund Revenues $ 216,362 $ 93,775 $ 122,587 43.3% Expenditures 216,362 146,192 70,170 67.6% Excess (deficiency) of revenues over expenditures $ - $ (52,418) Housing Choice Fund Revenues $ 2,013,343 $ 1,016,361 $ 996,982 50.5% Expenditures 2,251,903 917,400 1,334,503 40.7% Excess (deficiency) of revenues over expenditures $ (238,560) $ 98,961 TOTAL SPECIAL REVENUE FUNDS: $ (238,560) $ 46,543 Actual Remaining Difference Budget Anticipated YTD Balance Ant vs. Actual GRAND TOTALS: (excluding Schools & Special Revenues) Revenues: $ 59,350,408 29,188,229 $ 29,465,151 $ 29,885,257 100.9% Expenditures 65,899,393 31,484,186 31,582,689 34,316,704 100.3% Excess (deficiency) of revenues over expenditures $ (6,548,985) (2,295,957) $ (2,117,537) Local Sales/Use Taxes $ 1,900,000 $ 741,000 $ 759,294 $ 1,140,706 102.5% The Budgeted Revenue amounts do not include any contributions from Fund Balance.