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71 <br /> <br />December 12, 1989 <br /> <br /> NOW, THEREFORE, BE IT RESOLVED by the Council of ~he City of <br />PortsmoUth, Virginia, that the City Manager be, and hereby isj <br />authorized convey the hereinafter-described property to the <br />Portsmouth Port and Industrlat~ uommlsslon. ~ ~[~All t~ <br /> ~and. situ~ <br /> Po~t~mouth, ~ <br /> desc~i ........ <br /> <br />id <br /> <br />pa~ <br /> <br />BEI ~T <br />au~tho~ <br />ne,cess <br /> <br />at a <br /> <br />of¸ <br /> <br />301, 1 <br />19'89 <br /> <br />ofl PO <br />submit <br />report <br />~ith ~ <br />~e~ic <br />for t <br />also <br /> <br />finis <br />asl an <br />be%ng <br />sh0rtf <br /> <br />the st <br />dedica <br />th~e <br />theSe! <br />the~e <br />Fih~n <br /> <br />th~ C <br />rep~r <br />Se :em <br /> <br /> that certain lot, piece or parcel <br /> situate, lying and being in the City c <br /> Virginia, known, numbered, and~ <br />ibed as Parcel 16 on Tax Plate 118. Sa <br />is approximately 400 square feet. <br /> <br />RTHER RESOLVED <br />ed to sign such <br />y to carry out <br /> <br />that the City Manager b <br />deeds and other documen <br />the intent of this Resol <br /> <br />pted by the Council of the City of Por~ <br />ting held December 12, 1989." <br /> <br />s: Barnes, Corpew¥ Gray, Hawks, Simps( <br />s: None <br /> <br />480 Letter from the City Manager reco <br />ion to Ceceive the Comprehensive Annual <br />f the City of Portsmouth for the~fiscal <br />, and the quarterly reports for the' ~er <br />September 30, 1989. <br /> <br /> Comprehensive Annual Financial Report <br />mouth for the fiscal year ended June 30 <br />d in accordance with the provisions of <br />as prepared by the Department of Financ <br />erally accepted accounting principles. <br />11-43 of the City Code, the Quarterly F <br />periods ended June 30, 1989 and Septemb <br />eln submitted; <br /> <br />the CAFR indicates, the FY 1988-89 actu <br /> very close to budget. General Fund Re <br />ipated, largely because of the State sa <br />re than $800,000 over actual receipts. <br /> was $1,461,682. However, our actions <br /> by implementing a partial freeze o <br />ures last Dece~oer resulted in undere~p <br /> the overall revenue shortfall. Net un <br />443,889, making the overall budget vami <br /> This variance, combined with transfer <br />ncy reserve during the~fiscal year and <br />nces that were cancelled-, resulted in a <br />of $5,770,931 to be available for next <br />~hich is $264,478 less than the amount <br />budget. . : <br /> <br />~uld like to acknowledge and extend spe <br /> of the Department of Finance for thei <br /> services which have made possible the <br /> ancial reports. If you have any quest <br /> ~orts, please feel free to let me know. <br /> <br />ecommend that the City Council adopt a <br />~orts as information and to refer them <br />ommission. <br /> <br />notion of Mr. Simpson and seconded by M <br />rehensive Annual Financial Report and t <br />for the periods ended June 30, 1989 and <br /> 30, 1989, and was adopted by unanimou <br /> <br />, and h~ reby is, <br />ts as m~y be <br />ation. <br /> <br />smouth, Virginia, <br />n, Webb <br /> <br />nmendin¢ adoption <br />Financ!al Report <br /> ~ear er ded June <br /> .ods-%h~e~ Ju~e 30 <br /> <br /> (CAFR) of the Cit <br /> 1989, is <br />.he Cit~ Code.. Th~ <br />9 in. ac( ordance <br /> Ih acccrdance wit] <br />inancia2 Reports <br />~r 307~ )989 are <br />~1 perfOrmanc~ <br />~enues ~ell short <br />les tax estimate <br />The total revenue <br />to curtail <br />n hirin¢ and <br />~nditur~s almost a~ <br />~erexper. ditures <br />~nce a ~hortfall oJ <br />s from ~he <br />]nexpen~ed <br />General Fund <br />~ear's ~nnual <br />included in our <br />~i~ recognition t( <br />~ efficient and <br />compilation of <br />ions coHcerning <br />notion 1o receive <br />~o the unicipal <br /> <br />-~. Gray to receiw <br />~e quarlerly <br /> <br />vote. <br /> <br /> <br />