Minutes 05/12/2015 - Laserfiche WebLink

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May 12, 2015 i. Adoption of an ordinance to appropriate $443,333,941 for the operation of City government during the fiscal year beginning July 1, 2015. Capital Improvement For Fiscal Year 2016, upon adoption by Council the funding is authorized by o appropriation. Years 2016-2020 of the CIP and Fleet Management Plan are approved but not o appropriated years used for long-term planning purposes and are approved as planning years. j. Adoption of an ordinance approving the FY 2016-2020 Capital Improvement Program and appropriating $33,419,887 in the Fiscal Year 2015-16 Capital Improvement Fund, $150,000 in the Fiscal Year 2015-16 Portsmouth Parking Authority Capital Improvement Fund, and $22,000,000 in the Fiscal Year 2015-16 Public Utilities Capital Improvement Fund. Portsmouth Public Schools  City funding of Portsmouth Public School Operations and the total School Budget will be appropriated by category on a quarterly basis.  City Council will consider each subsequent quarterly appropriation upon receipt of a quarterly financial report and request for appropriation from the School Board by the: k. Adoption of an ordinance approving a budget in the amount of $168,716,716 for the operation of the Portsmouth Public Schools during the fiscal year beginning July 1, 2015, and appropriating said funds by classifications. Financial Impact:  City Operating Budget- By Virginia law, the operating budget must be in balance, with estimated revenues and other funding sources equaling appropriations. The Proposed Operating Budget for Fiscal Year 2015 – 2016 complies with this law.  Community Planning and Development - Funds will be available for undertaking the priorities established by the 5-Year CP and in agreement with the statutory purposes of the CDBG and HOME programs. There is no matching fund requirement for CDBG funds. HOME funds require a match contribution of not less than 25% of the HOME funds drawn.  Capital Improvement - The sums of $33,419,887 in the Capital Improvement Fund, $150,000 in the Parking Capital Improvement Fund, and $22,000,000 in the Public Utilities Capital Improvement Fund are appropriated for expenditures in the following categories and amounts: Capital Improvement Fund o Drainage and street Improvements $15,136,580  Education $ 2,639,132  Leisure Services $ 800,000  Municipal Facilities $14,844,175  Total Capital Improvement Fund $33,419,887 Parking Authority CIP$ 150,000 o Public Utilities Capital Improvement Fund o Sewer $ 5,000,000  Water $17,500,000  Total Public Utilities Capital Improvement Fund $22,000,000