2020 Ordinances - Laserfiche WebLink

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first quarter of Fiscal Year 2021 which begins on July 1, 2020 and ends on September 30, 2020: General Fund $40,122,523 Risk Management Fund 5,283,668 Total $45,406,191 3. In order to provide the funding for the Portsmouth Public Schools' Fiscal Year 2021 Grant Fund, that the sum of $19,059,930 be, and the same hereby is, appropriated to the Grant Fund for Fiscal Year 2021 which begins on July 1, 2020 and ends on June 30, 2021. 4. In order to provide the funding for the Portsmouth Public Schools' Fiscal Year 2021 Food Services Fund, that the sum of $8,788,27.5 be, and the same hereby is, appropriated to the Food Services Fund for Fiscal Year 2021 which begins on July 1, 2020 and ends on June 30, 2021. 5. In order to provide the funding for the Portsmouth Public Schools' Fiscal Year 2021 Textbook Fund, that the sum of $1,417,605 be, and the same hereby is, appropriated to the Textbook Fund for Fiscal Year 2021 which begins on July 1, 2020 and ends on June 30, 2021. 6. Subject to quarterly appropriation and this Section 6, the FY 2021 Local Share of $56,725,696 shall be delivered to Portsmouth Public Schools in twelve equal monthly payments. The total amount of the FY 2021 Local Share approved by this Ordinance for the Portsmouth Public School Budget is based on estimates of City revenues that may be impacted by the COVID -19 pandemic. If during the course of FY 2021 it appears that revenues actually received by the City are or will be less than the revenue estimates on which this Ordinance is based, the total amount of the Local Share, including the amount appropriated for subsequent quarters and delivered to PPS monthly during subsequent quarters, may be reduced by City Council. The FY 2021 Local Share will not exceed $56,725,696. 7. The appropriation by this ordinance of funds other than the Local Share is subject to and conditioned upon the receipt of those funds from the federal government, the state government, or any other source of Portsmouth Public Schools Revenues in Section 1 above. 8. All unspent appropriations under this ordinance or any ordinance appropriating funds for the FY 2021 Portsmouth Public Schools budget shall lapse at the end of the fiscal year, as provided under Section 22.1 -100 of the Code of Virginia. Funds encumbered but unpaid by the end of the fiscal year will be deemed unspent appropriations that will require re- appropriation by the City Council. 9. The Local Revenue Allocation Policy adopted by City Council on February 25, 2020 shall govern the Local Share funding provided under this ordinance.