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ORDINANCE NO. 2024-114 <br />AN ORDINANCE TO RE -APPROPRIATE UNEXPENDED FUNDS IN THE <br />AMOUNT OF $2,618,257 FROM THE FY 2024 PORTSMOUTH PUBLIC <br />SCHOOLS RISK MANAGEMENT FUND BUDGET TO THE FY 2025 <br />PORTSMOUTH PUBLIC SCHOOLS RISK MANAGEMENT FUND BUDGET. <br />BE IT ORDAINED by the Council of the City of Portsmouth, Virginia: <br />1. That it appropriates the sum of $2,618,257 into the FY 2025 Risk <br />Management Fund Budget for the Portsmouth Public Schools. <br />2. That the source of the appropriation is funding that was appropriated into <br />the FY 2024 Portsmouth Public Schools Risk Management Fund Budget and neither <br />encumbered nor expended prior to July 1, 2024. <br />3. That the estimated revenues and expenditures in the FY 2025 Portsmouth <br />Public Schools Risk Management Fund Budget are increased by $2,618,257. <br />4. That the revised funding appropriation for the FY 2025 Portsmouth Public <br />Schools Risk Management 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 />