Minutes 05/08/2018 - Laserfiche WebLink

Home Browse Search

May 8, 2018 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.  City Council will consider each subsequent quarterly appropriation upon receipt of a quarterly financial report and request for appropriation from the School Board. g. Adoption of an ordinance approving the Fiscal Year 2019 Operating Budget for the Portsmouth Public School System in the amount of $193,290,217 and appropriating the necessary funds by classifications to implement (1) the Grant Fund category of said budget for the entire Fiscal Year 2019 and (2) the remainder of said budget for the First Quarter of Fiscal Year 2019. 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 2019 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 $38,140,062 in the Capital Improvement Fund, $250,000 in the Parking Authority Capital Improvement Fund, and $56,800,000 in the Public Utilities Capital Improvement Fund are appropriated for expenditures in the following categories and amounts. Drainage and Street Improvements $14,635,375 Education 7,800,000 Leisure Services 365,000 Industrial and Economic Development 300,000 Municipal Facilities 11,589,687 Fleet Management 3,450,000 Total Capital Improvement Fund $38,140,062 Parking Authority Capital Improvement Fund $250,000 Public Utilities Capital Improvement Fund Water 41,650,000 Sewer 14,500,000 Municipal Facilities 650,000 Total Public Utilities Capital Improvement Fund $56,800,000  Portsmouth Public Schools - The first quarterly financial report and request for appropriation to the Portsmouth Public School Board: