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oRomAi0 201 -99 AN ORDINANCE TO APPROPRIATE $5,189,613 IN UNEXPENDED FUNDS FROM THE FY 2018 RISK MANAGEMENT FUND BUDGET FOR THE PORTSMOUTH PUBLIC SCHOOLS (PPS) TO THE FY 2019 SCHOOL BOARD RISK MANAGEMENT AND INSURANCE FUND ESTABLISHED BY SECTION 2.2(a) OF THE CITY CODE FOR THE PURPOSE OF ESTABLISHING A RESERVE FOR THE PPS HEALTH SELF INSURANCE AND WORKERS COMPENSATION AND GENERAL LIABILITY PROGRAMS. WHEREAS, Portsmouth Public Schools (PPS) has made a preliminary determination that it has an unspent net position amount of $5,189,613 from the FY 2018 Risk Management Fund funding appropriated by the City; and WHEREAS, PPS has expressed a desire to have the $5,189,613 serve as a reserve for its FY 2019 obligations under its Health Self Insurance and Workers Compensation and General Liability Programs; and WHEREAS, by Ordinance 2017 -27 adopted on May 9, 2017 City Council provided that all unspent appropriations to PPS shall lapse at the end of FY 2018; and WHEREAS, Section 2.2(a) of the City Code establishes a School Board Risk Management and Insurance Fund; NOW, THEREFORE, BE IT ORDAINED by the Council of the City of Portsmouth, Virginia: 1. That PPS is directed to return to the City the $5,189,613 in unspent funds appropriated to the PPS FY 2018 Risk Management Fund Budget. 2. That, effective as of the return of the funds, the said $5,189,613 is appropriated to the FY 2019 School Board Risk Management and Insurance Fund established by Section 2.2(a) of the City Code. 3. That the $5,189,613 shall be maintained by the City within the FY 2019 School Board Risk Management and Insurance Fund for the sole purpose of serving as a reserve for the PPS Health Self Insurance and Workers Compensation and General Liability Programs. 4. That the City Manager is authorized to enter into an agreement with PPS for the disbursement of the reserve funds on an as needed basis. 5. That the City Manager is authorized to cause the funds to be disbursed as necessary to PPS in accordance with the intent of this Ordinance and without further action by City Council. 6. That the estimated revenues and expenditures in the FY 2019 Portsmouth School Board Risk Management and Insurance Fund are increased by $5,189,613. 7. That this ordinance shall take effect on the date of its adoption.