Minutes 10/27/2020 - Laserfiche WebLink

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October 27, 2020 “ORDINANCE: (1) ESTABLISHING A NEW PROJECT IN THE FY 2021 PUBLIC UTILITIES CAPITAL IMPROVEMENT FUND CALLED THE WEST NORFOLK ROAD WATER UPGRADE PROJECT; (2) TRANSFERRING AND APPROPRIATING $1,150,000 IN APPROPRIATION AUTHORITY FROM THE LOW PRESSURE TRANSMISSION MAIN PROJECT IN THE FY 2021 PUBLIC UTILITIES CAPITAL IMPROVEMENT FUND BUDGET TO THE WEST NORFOLK ROAD WATER UPGRADE PROJECT; (3) APPROPRIATING $1,150,000 FROM THE FUND BALANCE OF THE GENERAL FUND TO THE FY 2021 GENERAL FUND BUDGET; AND (4) TRANSFERRING AND APPROPRIATING THE SAID $1,150,000 FROM THE FY 2021 GENERAL FUND BUDGET TO THE WEST NORFOLK ROAD WATER UPGRADE PROJECT. ” Ayes: Battle, Clark, Glover, Lucas-Burke, Moody, Psimas, Rowe Nays: None 20 - 254 - Adoption of an ordinance authorizing the appropriation of $1,469,000 from the General Fund – Fund Balance to the Non-Departmental, Benefits-Retiree Supplement line item in the FY 2021 General Fund budget for the purpose of funding a one-time supplement in the gross amount of $1,500 to beneficiaries under the Portsmouth Supplemental Retirement System and the Fire and Police Retirement System. Background:  Per City Code, Section 12-5, City Council is required to approve all budget transfers over $100,000.  On October 13, 2020, there was a consensus of City Council to provide a $1,500 supplement to retirees and beneficiaries of a deceased member in the city’s closed retirement plans, the Portsmouth Supplemental Retirement System and the Fire and Police Retirement System.  The total number of retirees receiving the supplement is approximately 977, which equates to $1,469,000.  Unassigned fund balance will be utilized to fund the retiree supplement. Discussion:  The General Fund balance will be sufficient to cover the retiree one-time bonus in FY2021.  The proposed ordinance appropriates $1,469,000 from the General Fund – Unassigned Fund Balance to the Non-Departmental Benefits-Retiree Supplement line.  It is anticipated that the one-time supplemental payment to retirees will be distributed in December 2020. Financial Impact:  This budget appropriation will allow the city to provide a supplement to eligible PSRS and FPRS retirees. Recommended Action:  Adoption of the ordinance Next Steps Following Council Action:  The Finance Department will complete the necessary budget adjustments. 1. Mark Geduldig-Yatrofsky, P. O. Box 50141, spoke in opposition to this item. Motion by Mr. Moody, and seconded by Ms. Lucas-Burke, to adopt the following ordinance, and was adopted by the following vote: