Minutes 05/08/2012 - Laserfiche WebLink

Home Browse Search

May 8, 2012 WHEREAS, on September 22, 2009, City Council adopted City Financial Policies to address financial management, debt administration, budget and capital plan development, and long-range financial planning; and WHEREAS, the City's Finance Department has developed and recommends formal adoption of Appendix B (attached hereto and made a part hereof) to those Financial Policies setting out policy guidelines for the Public Utilities Capital Improvement Program to help ensure a strong financial foundation in the Public Utilities Enterprise Fund and to ensure that adequate funding will be available to cover debt service on current and future bonded debt; and WHEREAS, the draft Appendix B has been developed in conjunction with the City's financial advisors, Davenport and Company; and WHEREAS, adoption of the fiscal policy guidelines set out in Appendix B will further strengthen the City's financial management best practices. NOW THEREFORE BE IT RESOLVED by the Council of the City of Portsmouth, Virginia that it hereby endorses the financial policies set out in said Appendix B and adopts them as the official policies governing the Public Utilities Capital Improvement Program in the Public Utilities Enterprise Fund." Ayes: Cherry, Edmonds, Heretick, Moody, Randall, Whitehurst, Wright Nays: None - New Business - 12 - 189 -Boards and Commissions There were no appointments. 12 - 190 -Items Submitted by Council Members - Mayor Wright informed citizens of Teacher Appreciation Week and asked that citizens show their appreciation for teachers in the City. He also informed citizens and City Council of his attendance to Pastor Frye's 60t" Anniversary Celebration and to the Portsmouth Law Enforcement Memorial Day Service. 12 - 191 -Report on Pending Items There were no pending items. 12 - 192 -Non-Agenda Speakers 1. J. Brewer Moore, 308 Bobby Jones Drive, informed citizens and City Council of a newspaper article reporting on the War of 1812. He also asked for City Council's cooperation in seeking a historic designation of the Battle of Craney Island. 2. James Ellis, 805 Arnold Palmer Drive, voiced his concern with the School Board surplus. 3. Delores Knight, 33 Kennedy Drive, voiced her concern with the School Board surplus. 4. Donna Sayegh, 3104 Garland Drive, voiced her concern with the current Destination 2025 values, aspirations and priorities. 5. Tony Goodwin, 38 Linden Avenue, asked for a parking plan for Olde Towne. 6. Pat Simons, 801 Mimosa Road, asked for an investigation into the school fund surplus.