Minutes 05/10/2016 - Laserfiche WebLink

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May 10, 2016 e. Adoption of an ordinance approving the Fiscal Year 2017-2021 Capital Improvement Program and appropriating $33,460,984 in the Fiscal Year 2017 Capital Improvement Fund, $2,100,000 in the Fiscal Year 2017 Portsmouth Parking Authority Capital Improvement Fund, and $1,000,000 in the Fiscal Year 2017 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 with the exception of the grants fund.  The ordinance reflects an increase of additional State Revenue of $167,141 for Portsmouth Public School operations.  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: f. Adoption of an ordinance approving a budget in the amount of $191,810,233 for the operation of the Portsmouth Public Schools during the fiscal year beginning July 1, 2016, 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 2017 complies with this law.  Community Planning and Development - Funds will be available for undertaking the priorities established by the 5-Year Consolidated Plan 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 Program – The sums of $33,460,984 in the Capital Improvement Fund, $2,100,000 in the Parking Capital Improvement Fund and $1,000,000 in the Public Utilities Capital Improvement Fund are appropriated for expenditures in the following categories and amounts. Drainage and Street Improvements $ 17,016,213 Education 4,576,000 Industrial and Economic Development 350,000 Municipal Facilities 7,828,000 Fleet Management 3,690,771 Total Capital Improvement Fund $ 33,460,984 Total Parking Authority Capital Improvement Fund $ 2,100,000 Public Utilities Capital Improvement Fund: Water 500,000 Sewer 500,000 Total Public Utilities Capital Improvement Fund $ 1,000,000 Portsmouth Public Schools - The first quarterly financial report and request for appropriation to the Portsmouth Public School Board: