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ORDINANCE NO. 2024-111 <br />AN ORDINANCE TO RE -APPROPRIATE UNEXPENDED FUNDS IN THE <br />AMOUNT OF $19,025,447 FROM THE FY 2024 PORTSMOUTH PUBLIC <br />SCHOOLS GENERAL FUND BUDGET TO THE FY 2025 PORTSMOUTH <br />PUBLIC SCHOOLS GENERAL FUND BUDGET. <br />BE IT ORDAINED by the Council of the City of Portsmouth, Virginia: <br />1. That it appropriates the sum of $19,025,447 to the FY 2025 General Fund <br />Budget for the Portsmouth Public Schools. <br />2. That the source of the appropriation is $9,096,246 in funds appropriated <br />by the City to the FY 2024 PPS General Fund Budget which were encumbered but not <br />expended prior to July 1, 2024 and $9,929,201 in funds appropriated by the City to the <br />FY 2024 PPS General Fund Budget which were neither encumbered nor expended prior <br />to July 1, 2024. <br />3. That estimated revenues and expenditures in the FY 2025 Portsmouth <br />Public Schools General Fund Budget are increased by $19,025,447. <br />4. That the revised appropriation for the FY 2025 Portsmouth Public Schools <br />General Fund Budget is as shown on Exhibit A hereto. <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 October 22, 2024. <br />Teste: <br />City Clerk <br />