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<br />ORDINANCE NO.2006-14 . <br /> <br />. <br /> <br />AN ORDINANCE INCREASING THE FY 2005-2006 OPERATING BUDGET BY <br />$2,000,000 AND APPROPRIATING THE SAME AMOUNT IN THE FY 2005-2006 <br />GENERAL FUND OPERATING BUDGET TO PROVIDE CASH FUNDING FOR <br />THE JOINT CITY/SCHOOLS FINANCIAL SYSTEM. <br /> <br />BE IT ORDAINED by the Council of the City of Portsmouth, Virginia: <br /> <br />I. That a Public Hearing concerning increasing the FY 2005-2006 Operating <br />Budget by $2,000,000 was held on February 14,2006, as required by state law; and <br /> <br />2. That the funding source for the increase in the FY 2005-2006 Operating <br />Budget is FY 2006 General Fund fund balance; and <br /> <br />3. That the sum of $2,000,000 is hereby appropriated in the FY 2005-2006 <br />Operating Budget to provide cash funding for the Joint City/Schools Financial System <br />authorized in the City's FY 2005-2006 Five-Year Capital Improvement Program (CIP) in <br />May 2005; and <br /> <br />. <br /> <br />4. That estimated revenue in the FY 2005-2006 General Fund Operating <br />Budget is increased by $2,000,000. <br /> <br />5. That this ordinance shall take effect on the date of its adoption. <br /> <br />ADOPTED by the Council of the City of Portsmouth, Virginia at a meeting held <br />on February 14,2006. <br /> <br />Teste: <br /> <br />City Clerk <br /> <br />. <br /> <br />