2025 Ordinances - Laserfiche WebLink

Home Browse Search

ORDINANCE NO. 2025-111 AN ORDINANCE: (1) TO RE -APPROPRIATE ENCUMBERED BUT UNEXPENDED FUNDS IN THE AMOUNT OF $12,960,928 FROM THE FY 2025 PORTSMOUTH PUBLIC SCHOOLS GENERAL FUND BUDGET TO THE FY 2026 PORTSMOUTH PUBLIC SCHOOLS GENERAL FUND BUDGET; AND (2) TO ACKNOWLEDGE THE PLACEMENT OF $164,000 OF UNENCUMBERED AND UNEXPENDED FUNDS FROM THE FY 2025 PORTSMOUTH PUBLIC SCHOOLS GENERAL FUND BUDGET INTO THE PPS CAPITAL RESERVE FUND. BE IT ORDAINED by the Council of the City of Portsmouth, Virginia: 1. That it appropriates the sum of $12,960,928 to the FY 2026 General Fund Budget for the Portsmouth Public Schools. 2. That the source of the appropriation is funds that were appropriated by the City to the FY 2025 PPS General Fund Budget and encumbered but not expended prior to July 1, 2025. 3. That estimated revenues and expenditures in the FY 2026 Portsmouth Public Schools General Fund Budget are increased by $12,960,928. 4. That the revised appropriation for the FY 2026 Portsmouth Public Schools General Fund Budget is as shown on Exhibit A hereto. 5. That the City also acknowledges the School Board's placement of $164,000 into the PPS Capital Reserve Fund. 6. That the source of the placement is funds that were appropriated by the City to the FY 2025 PPS General Fund Budget and were neither encumbered nor expended prior to July 1, 2025. 7. That, in accordance with Virginia Code § 22.1-100(B) and City Council Ordinance 2024-138, no re -appropriation of the money placed into the PPS Capital Reserve Fund is required. 8. That the Portsmouth School Board is required to comply with the reporting and other requirements of Virginia Code § 22.1-100(B) and City Council Ordinance 2024-138 with respect to the PPS Capital Reserve Fund. 9. That estimated revenues and expenditures in the PPS Capital Reserve Fund are increased by $164,000. 10. That this ordinance shall take effect on the date of its adoption.