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ORDINANCE NO. 2024-131 <br />AN ORDINANCE APPROPRIATING $750,000 FROM THE FUND BALANCE <br />OF THE GENERAL FUND TO THE FY 2025 GENERAL FUND BUDGET FOR <br />THE PURPOSE OF OFFERING AN ANNUAL LEAVE BUYBACK BENEFIT <br />FOR ELIGIBLE CITY EMPLOYEES. <br />BE IT ORDAINED by the Council of the City of Portsmouth, Virginia: <br />1. That it appropriates $750,000 from the Fund Balance of the General Fund <br />to the FY 2025 General Fund Budget. <br />2. That funds appropriated shall be used by the City Manager to offer a one- <br />time annual leave buyback benefit for eligible City employees. <br />3. That under the terms of the annual leave buyback benefit, eligible City <br />employees shall be offered the opportunity to convey not to exceed 40 hours of accrued <br />annual leave back to the City so long as the employee retains at least 80 hours of accrued <br />annual leave after the conveyance. <br />4. That the City Manager shall have the authority to establish additional <br />terms, conditions, and limitations applicable to the annual leave buyback benefit. <br />5. That estimated revenues and expenditures in the FY 2025 General Fund <br />Budget are increased by $750,000. <br />6. 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 November 26, 2024. <br />Teste: <br />City Clerk <br />