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ORDINUL NO 2_ 0103 _ AN ORDINANCE ACCEPTING THE RETURN OF UNEXPENDED FUNDING FROM THE FY 2022 PPS GENERAL FUND BUDGET IN THE AMOUNT OF $4,641,523, AND APPROPRIATING $2,041,523 OF SAID FUNDS TO THE FY 2023 CITY GENERAL FUND BUDGET AND TRANSFERRING THEM TO THE SCHOOL PROJECTS CATEGORY OF THE FY 2023 CITY CAPITAL IMPROVEMENT FUND BUDGET. BE IT ORDAINED by the Council of the City of Portsmouth, Virginia: 1. That it accepts the return of unexpended funding from the FY 2022 PPS General Fund Budget in the amount of $4,641,523. 2. That it appropriates $2,041,523 of said funds to the City of Portsmouth FY 2023 General Fund Budget. 3. That it transfers the said $2,041,523 from the FY 2023 General Fund Budget to the School Projects category of the FY 2023 Capital Improvement Fund Budget to fund school projects including, without limitation, roofs at Hodges Manor Elementary School and Churchland Academy Elementary School, bleachers at Churchland High School, and auditorium improvements at the Little Theatre at Manor High School. 4. That the remaining $2,600,000 of said funds are intended to reimburse an appropriation of the same amount from fund balance to fund PPS capital improvements as part of the adoption of the FY 2023 City budget on May 10,2022. Therefore, the said $2,600,000 shall remain in the fund balance of the General Fund until appropriated by City Council through adoption of a subsequent ordinance. 5. That estimated revenues and expenditures in the FY 2023 General Fund Budget are increased by $2,041,523. 6. That estimated revenues and expenditures in the School Projects Category of the FY 2023 Capital Improvement Fund Budget are increased by $2,041,523. 7. That this ordinance shall take effect on the date of its adoption. ADOPTED by the Council of the City of Portsmouth, Virginia at a meeting held on November 22, 2022. Teste: City Clerk