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December 10, 2019 <br /> <br /> <br /> PPS requests the placement of the remaining $2,909,455 of the unencumbered <br />funds in the School Board Risk Management Reserve (Reserve) to address a shortfall in <br />the FY 2019 PPS Risk Management Fund. However, the Reserve has $5.1 million which <br />is sufficient funding to address the FY 2019 shortfall. Therefore, the transfer is not <br />required. <br /> <br /> The City is recommending that City Council instead reserve the $2,909,455 within <br />the FY 2019 Fund Balance until it decides at a later date the appropriate use for the <br />funding. <br /> <br />Financial Impact: <br /> <br /> <br /> The FY 2020 PPS General Fund will increase by $237,202. <br /> <br /> <br /> The City’s CIP will increase by $723,039 for the three new PPS Projects. <br /> <br /> $2,909,455 will be reserved within the City’s FY 2019 Fund Balance for future <br /> <br />appropriation by City Council. <br /> <br />Staff Recommends: <br /> <br /> <br /> Adoption of the ordinance. <br /> <br /> <br />Next Steps Following Council Action: <br /> <br /> The City and Portsmouth Public Schools will work with the City Treasurer to take <br /> <br />the necessary action to return the unencumbered funds. <br /> <br /> The Finance Departments for the City and Schools will complete the necessary <br /> <br />budget adjustments. <br /> <br /> <br /> The new PPS CIP Projects will be implemented. <br /> <br />1. Donna Sayegh, 3104 Garland Drive, spoke in opposition to this item. <br /> <br />Motion by Ms. Lucas-Burke, and seconded by Mr. Clark, to adopt the following <br />ordinance, and was adopted by the following vote: <br /> <br />19-460(A): <br /> <br />“ORDINANCE TO RE-APPROPRIATE ENCUMBERED BUT UNEXPENDED FUNDS <br />FROM THE FY 2019 PORTSMOUTH PUBLIC SCHOOLS GENERAL FUND BUDGET <br />IN THE TOTAL AMOUNT OF $237,202 TO THE FY 2020 PORTSMOUTH PUBLIC <br />SCHOOLS GENERAL FUND BUDGET.” <br /> <br />Ayes: Battle, Clark, Glover, Lucas-Burke, Psimas, Rowe <br />Nays: None <br /> <br />1. Mark Geduldig-Yatrofsky, P. O. Box 50141, spoke in support of an amendment to this <br /> item proposed in a previous Public Work Session. <br /> <br />2. Sergio Neal, 1560 Darren Circle, spoke in opposition to this item. <br /> <br />3. Claude Parent, 802 Arnold Palmer Drive, spoke in opposition to this item. <br /> <br />4. Donna Sayegh, 3104 Garland Drive, spoke in opposition to this item. <br /> <br /> Motion by Ms. Psimas, and seconded by Mr. Clark, to adopt the following <br />ordinance, and was adopted by the following vote: <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br />