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<br />January 23. 2007 <br /> <br />07 - 53 - Adoption of an ordinance to amend the FY 2006-2007 Capital Improvements <br />Program and to appropriate an additional $146,459 in the FY 2006-2007 Capital <br />Projects Fund Budget for the Virginia Modeling and Simulation Center (VMASC). Vision <br />Principle: A Robust and Prospering Economy. <br /> <br />Background: <br />. A supplemental appropriation is needed in the Capital Projects Fund to provide <br />funding for this additional capital project expenditure for the Virginia Modeling and <br />Simulation Center (VMASC). <br />. The City needs this additional appropriation to supplement the funding previously <br />provided and planned for this capital project in the Capital Projects Fund within the CIP <br />for FY 2006-2007. <br /> <br />Discussion: <br />. A CIP transfer from the General Fund out of previously appropriated "war chest" <br />funding will be used to provide funding for the additional capital contribution to the <br />VMASC. <br /> <br />Financial Impact: <br />. None, the FY 2006-2007 General Fund Operating Budget already has sufficient <br />funds appropriated to be used as the source of revenue for this additional capital project <br />expenditure. <br /> <br />Staff Recommends: <br />Adoption of proposed ordinance. Vision Principle: A Robust and Prospering Economy. <br /> <br />Next Steps Following Council Action: <br />. The CFO will ensure that the budget action needed to increase total <br />appropriations in the Capital Projects Fund by $146,459 is processed immediately upon <br />adoption of the ordinance. <br /> <br />Motion by Mr. Moody, and seconded by Ms. Randall, to adopt the following <br />ordinance, and was adopted by the following vote: <br /> <br />"ORDINANCE TO AMEND THE FY 2006-2007 CAPITAL IMPROVEMENTS <br />PROGRAM AND TO APPROPRIATE AN ADDITIONAL $146,459 IN THE FY 2006- <br />2007 CAPITAL PROJECTS FUND BUDGET FOR THE VIRGINIA MODELING AND <br />SIMULATION CENTER (VMASC)." <br /> <br />Ayes: Moody, Randall, R. Smith, Holley <br />Nays: None <br />Abstained: D. Smith (Worked on VMASC Project) <br /> <br />- New Business - <br /> <br />07 - 54 - Boards and Commissions <br /> <br />There were no appointments. <br /> <br />07 - 55 - Items Submitted by Council Members <br /> <br />'" Mr. R. Smith acknowledged his father who was sitting in the audience. <br /> <br />07 - 56 - Report on Pending Items <br /> <br />There were no pending items. <br />