Minutes 06/23/2020 - Laserfiche WebLink

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June 23, 2020 Next Steps Following Council Action:  The Finance Department will make the necessary budget adjustment. In addition, the Chief of Police or her designee will provide grant management and oversight. Motion by Ms. Lucas-Burke, and seconded by Mr. Clark, to adopt the following ordinance, and was adopted by the following vote: “ORDINANCE ACCEPTING CORONAVIRUS EMERGENCY SUPPLEMENTAL FUNDING PROGRAM FUNDS IN THE AMOUNT OF $251,760 AND APPROPRIATING SAID AMOUNT IN THE FY 2020 GRANTS FUND FOR USE BY THE CITY FOR THE PURCHASE OF EQUIPMENT AND SERVICES TO COUNTERACT COVID-19.” Ayes: Battle, Clark, Glover, Lucas-Burke, Moody, Psimas, Rowe Nays: None 20 - 160 - Adoption of an ordinance amending the FY 2021 adopted budget for the City of Portsmouth to (1) appropriate funds in the amount of $299,950 from the Stormwater Management Fund Balance to the FY 2021 Operating Budget for the Stormwater Management Fund and (2) appropriate funds in the amount of $2,549,776 from the Public Utilities Fund Balance to the FY 2021 Operating Budget for the Public Utilities Fund. Background:  City Council adopted a budget on May 12, 2020 that established projected revenues for the 2021 fiscal year.  Those revenue projections anticipated increases for certain Portsmouth Public Utility and Stormwater Management Utility rates effective July 1, 2020. However, to address the economic hardships resulting from the COVID-19 pandemic, City Council determined that some of the fee increases should be deferred to January 1, 2021.  Acknowledging that this would create a funding gap and that there are immediate needs, Council directed staff to supplement these revenue losses with fund balance appropriations. Discussion:  An amendment is required to ensure that the adopted budget reflects the deferral of impacted revenues.  This is a one-time appropriation related to a one-time event, as the COVID-19 event will end, and the economy should stabilize.  Department heads provided estimates for reallocating revenues. Financial Impact:  The Stormwater Management Fund budget for FY 2021 will remain the same. The SWM fund balance will be reduced by $299,950. Fund Balance Appropriation will be increased by $299,950, and Charges for Services will be reduced by the same amount.  The Portsmouth Public Utility Fund budget for FY 2021 will remain the same. The PPU fund balance will be reduced by $2,549,776. Fund Balance Appropriation will be increased by $2,549,776, and Charges for Services will be reduced by the same amount. Recommended Action:  Adoption of the ordinance. Next Steps Following Council Action:  The Finance Department will make the necessary budget adjustments. Motion by Mr. Glover, and seconded by Ms. Psimas, to adopt the following ordinance, and was adopted by the following vote: