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ORDINANCE Np 2019 -88 <br />AN ORDINANCE APPROPRIATING THE SUM OF $2,000,000 FROM THE <br />RISK MANAGEMENT FUND BALANCE TO THE FY 2020 RISK <br />MANAGEMENT FUND BUDGET AND TRANSFERRING THE SAID $2,000,000 <br />FROM THE FY 2020 RISK MANAGEMENT FUND BUDGET TO THE <br />PAVILION MAST /CANOPY REPLACEMENT PROJECT IN THE FY 2020 <br />CAPITAL IMPROVEMENT FUND BUDGET. <br />BE IT ORDAINED by the Council of the City of Portsmouth, Virginia: <br />1. That it appropriates the sum of $2,000,000 from the Risk Management <br />Fund Balance to the FY 2020 Risk Management Fund budget. <br />2. That it transfers the said 82,000,000 from the FY 2020 Risk Management <br />Fund budget to the Pavilion Mast/Canopy Replacement Project in the FY 2020 Capital <br />Improvement Fund budget. <br />3. That the Risk Management Fund Balance is reduced by 82,000,000. <br />4. That revenues and expenditures in the FY 2020 Risk Management Fund <br />budget are increased as shown in the below, chart: <br />Risk Management <br />Fund Budget <br />Revenue Expenditure <br />Budgetary Fund <br />Balance $ 2,000,000 <br />Transfer to Capital <br />Improvement Fund $ 2,000,000 <br />6. That revenues and expenditures in the FY 2020 Capital Improvement <br />Fund budget are increased as shown in the below chart: <br />Capital Improvement Fund Budget <br />Revenue Expenditure <br />Transfer from Risk <br />Management Fund $ 2,000,000 <br />Pavilion <br />Mast/Canopy <br />Replacement <br />Project $ 2,000,000 <br />7. That this ordinance shall take effect on the date of its adoption. <br />