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<br />ORmNA._. 20~9 <br /> <br />AN ORDINANCE TO TRANSFER THE SUM OF $5,500,000 FROM THE FY <br />2008-2009 HEALTH INSURANCE FUND AND TO APPROPRIATE $1,500,000 <br />OF THE TRANSFERRED FUNDS IN THE FY 2008-2009 RISK MANAGEMENT <br />AND INSURANCE FUND, $2,000,000 OF THE TRANSFERRED FUNDS IN THE <br />FY 2008-2009 OTHER POST EMPLOYMENT BENEFITS (OPEB) FUND AND <br />$2,000,000 OF THE TRANSFERRED FUNDS IN THE FY 2008-2009 GENERAL <br />FUND. <br /> <br />BE IT ORDAINED by the Council of the City of Portsmouth, Virginia: <br /> <br />1, That transfer of the sum of $5,500,000 from the FY 2008-2009 Health <br />Insurance Fund is hereby authorized. <br /> <br />2, That $1,500,000 of the transferred funds is appropriated in the FY 2008- <br />2009 Risk Management and Insurance Fund to be used to offset that Fund's deficit, and <br />that estimated revenues in the FY 2008-2009 Risk Management and Insurance Fund are <br />increased by $1,500,000, <br /> <br />3. That $2,000,000 of the transferred funds is appropriated in the FY 2008- <br />2009 Other Post Employment Benefits (OPEB) fund and used as the City's first non- <br />mandated contribution to the City's unfunded actuarial accrued liability, and that <br />estimated revenues in the FY 2008-2009 OPEB Fund are increased by $2,000,000, <br /> <br />4. That $2,000,000 of the transferred funds is appropriated in the FY 2008- <br />2009 General Fund to be used to offset the projected revenue shortfall and that estimated <br />revenues in the FY 2008-2009 General Fund are 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 June 23, 2009. <br /> <br />Teste: <br /> <br />City Clerk <br />