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AN ORDINANCE TO AMEND CHAPTER 12 OF THE CODE OF THE CITY OF <br />PORTSMOUTH, VIRGINIA (1988) BY AMENDING SECTION 12-5(c) THEREOF <br />PERTAINING TO THE CITY MANAGER'S AUTHORITY TO TRANSFER <br />UNENCUMBERED APPROPRIATIONS. <br /> <br />BE IT QRDAINED by the Council of the City of Portsmouth, <br />Virginia: <br /> <br /> 1. That Section 12-5 of the Code of the City of <br />Portsmouth, Virginia (1988) be amended and reordained to read <br />as follows: <br /> <br />Sec. 12-5. Transfers of appropriations. <br /> <br /> (c) The city manager may, at any time during the fiscal <br />year, transfer any unencumbered appropriation balance not to <br />exceed fifty thousand dollars ($50,000.00) from one (1) <br />department, project, program or purpose to another department, <br />project, program or purpose within the same accounting fund. <br />The city manager shall make a monthly report to the city <br />council of all transfers greater than twenty-five thousand <br />dollars ($25,000.00). <br /> <br /> 2. That this ordinance shall take effect on the date of <br />its adoption. <br /> <br /> Adopted by the Council of the City of Portsmouth, <br />Virginia, at a meeting held on May 6, 1997. <br /> <br /> Teste: <br /> <br /> <br /> City Clerk <br /> <br /> <br />