Title
Ordinance in the Amount of $33 Amending State, Federal and Other Grants Fund Budget for the Appropriation of Interest Earned on VA Asset Forfeiture Proceeds
Body
Department: Police
Council District: All
Public Hearing: N/A
Advertising Date/By: N/A
Contact 1 and Phone: Chief Scott, 373-2085
Contact 2 and Phone: Stephanie Moore, 373-2352
PURPOSE:
The Commonwealth of Virginia awarded the Greensboro Police Department forfeited drug funds from proceeds of a joint drug investigation. Per the Forfeited Asset Sharing Program guidelines, a trust fund account has been established to house the interest earning funds. Interest has been calculated by the Finance Department for the account through September 2016. To expend these funds, approval of a budget ordinance is required by City Council.
BACKGROUND:
The Virginia Constitution requires all property accruing to the Commonwealth by forfeiture to be paid into a separate, permanent and perpetual school fund known as the Literary Fund. Va. Const. art. VIII, ? 8. The Virginia Constitution also allows the General Assembly to enact general laws exempting payment into the Literary Fund for "the proceeds from the sale of all property seized and forfeited to the Commonwealth for a violation of the criminal laws of this Commonwealth proscribing the manufacture, sale or distribution of a controlled substance or marijuana." Such proceeds shall be paid into the state treasury and shall be distributed by law for the purpose of promoting law enforcement.
BUDGET IMPACT:
A Budget Ordinance (Ord#16-14) was adopted by City Council to house and expend VA Asset Forfeiture Proceeds in the amount of $10,877.79 on February 16, 2016. The interest bearing account has earned $33.00 since the receipt of funds on March 17, 2016 and needs to be appropriated in order to spend the funds. The funds will be utilized to pay towards supplemental body cameras.
RECOMMENDATION / ACTION REQUESTED:
It is requested that the City Council ad...
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