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May 27, 2014
<br />Total Capital Improvement Fund $17,132,757
<br />o Parking Authority CIP $ 400,000
<br />o Public Utilities Capital Improvement Fund
<br />^ Sewer $ 2,500,000
<br />^ Water $52,500,000
<br />Total Public Utilities Capital Improvement Fund $55,000,000
<br />• Portsmouth Public Schools -The first quarterly financial report and request for
<br />appropriation to the Portsmouth Public School Board:
<br />Instruction
<br />Administration, Attendance and Health
<br />Pupil Transportation
<br />Operation and Maintenance
<br />Facilities
<br />Debt and Fund Transfers
<br />Technology
<br />$ 23,625,329
<br />1,625,600
<br />1,625,600
<br />3,251,200
<br />975, 360
<br />881,032
<br />1, 300, 480
<br />Total General Fund $ 33,284,601
<br />Other Funds:
<br />Grants Fund
<br />Food Services Fund
<br />Risk Management Fund
<br />Print Shop Fund
<br />Textbook Fund
<br />$ 4,157,327
<br />2,119,250
<br />238, 926
<br />188, 967
<br />336, 770
<br />Total Other Funds $ 7,041,239
<br />Total First Quarter Appropriation $ 40,325,840
<br />• By Virginia law, the operating budget must be in balance, with estimated
<br />revenues and other funding sources equaling appropriations. The Proposed Operating
<br />Budget for Fiscal Year 2014 - 2015 complies with this law.
<br />Recommended Action:
<br />• Adoption of the attached Ordinances and Resolutions to appropriate the Fiscal
<br />Year 2014 - 2015 Operating and Capital Budgets. Vision Principles: Change and New
<br />Directions, A Robust Economy for the Working Men and Women, Lifelong Learning
<br />Community, Neighborhoods and A Sense of Community, Efficient, Responsive
<br />Government, Quality of Life, Pride of Past.
<br />Next Steps Following Council Action:
<br />• The City Manager has ultimate responsibility and authority for implementation of
<br />the Annual Operating Budget, the Capital Improvement Plan and Fleet Management
<br />Plan. The Chief Financial Officer has day to day responsibility for ensuring the budget
<br />is spent as appropriated by the City Council.
<br />• The City will transfer one-third of the quarterly appropriation to the Schools on a
<br />monthly basis. City Council will consider the second quarterly school appropriation in
<br />September, 2014.
<br />• The Annual Action Plan will be submitted to HUD by May 30, 2014. HUD has a
<br />45-day comment period prior to the start of the fiscal year.
<br />Motion by Mr. Edmonds, and seconded by Ms. Psimas, to adopt the following
<br />ordinance, and was adopted by the following vote:
<br />1. Mark Geduldig-Yatrofsky, P. O. Box 50141, spoke in support of this item but asked
<br />that City Council defer their vote to consider an increase in the boat tax.
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