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R -19 -21 <br />A RESOLUTION ESTABLISHING A COMMITTEE FOR THE PURPOSE OF <br />DEVELOPING A SCHOOL FUNDING FORMULA FOR THE CITY OF <br />PORTSMOUTH. <br />WHEREAS, as part of the FY 2020 Budget proposal the City Manager recommended <br />the development of a school funding formula for use commencing with the FY 2021 budget <br />process; and <br />WHEREAS, the formula would be applied annually to determine the local share of <br />education funding to be provided by the City each year, subject to appropriation; and <br />WHEREAS, other localities within the Commonwealth utilize such formulas; and <br />WHEREAS, working jointly with Portsmouth Public Schools to develop a mutually <br />acceptable formula will provide both the City and the Schools with a greater degree of certainty <br />during the annual budget process; and <br />WHEREAS, it is therefore desirable to establish a Committee with equal representation <br />from the City and the Schools and to charge that Committee with developing a proposed school <br />funding formula for consideration by City Council; <br />NOW, THEREFORE, BE IT RESOLVED by the Council of the City of Portsmouth, <br />Virginia, that the School Funding Formula Committee is hereby established; and <br />BE IT FURTHER RESOLVED that the purpose and mission of the Committee shall be <br />to develop a proposed school funding formula for consideration by City Council; and <br />BE IT FURTHER RESOLVED that the Committee shall consist of the representatives <br />set forth on Exhibit A; and <br />BE IT FURTHER RESOLVED that the tentative tasks to be completed and schedule to <br />be followed by the Committee shall be as set forth on Exhibit B, subject to modification as the <br />Committee deems appropriate as it pursues its mission; and <br />BE IT FURTHER RESOLVED that the City staff is directed to forward a copy of this <br />Resolution to the Clerk of the School Board of the City of Portsmouth, Virginia; and <br />BE IT FURTHER RESOLVED that the City Manager is authorized to take such <br />additional actions as she deems necessary or appropriate in furtherance of the purpose of this <br />Resolution. <br />ADOPTED by the Council of the City of Portsmouth, Virginia, at a meeting held on July <br />9, 2019. <br />Teste: <br />City Clerk <br />