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ORDINANCE NO. 2024-91 <br />AN ORDINANCE AUTHORIZING THE APPROPRIATION OF $1,400,000 <br />FROM THE FUND BALANCE OF THE GENERAL FUND TO THE NON - <br />DEPARTMENTAL, BENEFITS - RETIREE SUPPLEMENT LINE ITEM IN THE <br />FY 2025 GENERAL FUND BUDGET FOR THE PURPOSE OF FUNDING A <br />ONE-TIME SUPPLEMENT IN THE GROSS AMOUNT OF $1,500 TO <br />BENEFICIARIES UNDER THE PORTSMOUTH SUPPLEMENTAL <br />RETIREMENT SYSTEM AND THE FIRE AND POLICE RETIREMENT <br />SYSTEM. <br />BE IT ORDAINED by the Council of the City of Portsmouth, Virginia: <br />1. That it appropriates $1,400,000 from the Fund Balance of the General <br />Fund to the Non -Departmental, Benefits — Retiree Supplement Line Item in the FY 2025 <br />General Fund Budget. <br />2. That the funds so appropriated shall be used to fund payment of a one- <br />time supplement in the gross amount of $1,500 to beneficiaries under the Portsmouth <br />Supplemental Retirement System and the Fire and Police Retirement System. <br />3. That the Non -Departmental, Benefits — Retiree Supplement line item in <br />the FY 2025 General Fund budget is increased by $1,400,000. <br />4. That estimated revenues and expenditures in the FY 2025 General Fund <br />Operating Budget are increased by $1,400,000. <br />5. That this ordinance shall take effect on the date of its adoption. <br />ADOPTED by the Council of the City of Portsmouth, Virginia at a meeting held <br />on September 10, 2024. <br />Teste: <br />City Clerk <br />