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R-10-17 .. A RESOLUTION DECLARING THE INTENT OF CITY COUNCIL THAT ANY REMAINING FY 2009-2010 YEAR-END FUNDS IN EXCESS OF THE UNDESIGNATED AND UNRESERVED GENERAL FUND BALANCE OF 15% OF GENERAL FUND REVENUES BE ALLOCATED FIRST TO A ONE-TIME BONUS TO DESIGNATED NON-SWORN EMPLOYEES AND TO RETIREES WITH ANY REMAINING BALANCE UP TO $2 MILLION TO THE CITY'S FY 2010-2011 COURTHOUSE COMPLEX DEBT OBLIGATIONS. WHEREAS, unreserved and undesignated FY 2009-2010 funds may become available in excess of the 15% undesignated and unreserved General Fund balance that the City's financial advisers and the City Council deem prudent to retain as a buffer in the event of a sudden catastrophic event; and WHEREAS, the City has certain financial obligations in FY 2010-2011 with respect to the new Courthouse construction project; and WHEREAS, the City's non-sworn employees and retirees have suffered negative consequences as a result of the national economic downturn and the City's need to furlough employees and to freeze employee wages and retiree supplements; and WHEREAS, the City Council desires to express its intention to address the above issues to the extent that excess unreserved and undesignated funds become available in FY 2009-2010 year-end funds, NOW THEREFORE BE IT RESOLVED by the Council of the City of Portsmouth, Virginia that it intends to use FY 2009-2010 year-end funds in excess of the 15% undesignated and unreserved General Fund balance in the following manner: 1, The first excess funds shall be employed to provide a one-time bonus of 3% of annual salary to fulltime non-sworn employees, with the exception of the employees of the City's constitutional officers who will receive funds from the Commonwealth pursuant to its adopted budget. 2. Beneficiaries of the Portsmouth Supplemental Retirement System and the Fire and Police Retirement System shall receive a one-time pension supplement of 1 12% of the beneficiary's annual pension benefit. 3. Funds in excess of the amount required to provide the one-time employee bonus and the one-time retiree supplement shall be used to cash fund the City's obligations under the FY 2010-2011 Capital Improvements budget with respect to the new Courthouse complex capital project, up to $2,000,000.