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• <br />• <br />RESOLUTION <br />FY 2007 Fund Balance Target Excess <br />$7,035,772 <br />WHEREAS, at the November 19, 2007 City Council meeting, Council expressed a <br />desire to designate some of the $7,035,772 in FY 2007 Fund Balance Target Excess to the <br />following projects: Smith Pool, City School's technology needs in classrooms, and <br />stormwater infrastructure. <br />NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of <br />Charlottesville, Virginia that the FY 2007 Fund Balance Target Excess will be dedicated <br />in the following manner: <br />• $5,000,000 to the FY 2009 Capital Improvement Program for the purposes of <br />funding the first year of construction of a new pool at Smith Recreation <br />Center; <br />• $761,200 to the City School's to be used for technology improvements in the <br />classrooms for which a separate appropriation will be passed by Council for <br />the funds to be available to the Schools in the current fiscal year; <br />• $750,000 towards major stormwater infrastructure improvements <br />BE IT FURTHER RESOLVED, that the remainder of the excess, $524,572, will be <br />transferred to the capital fund contingency account until such time when Council <br />dedicates these funds to specific projects. <br />Approved by Council <br />December 3, 2007 <br />CI of City Council <br />