Minutes 10/22/2024 - Laserfiche WebLink

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October 22, 2024 Staff Recommends:  Adoption of the ordinance. Next Steps Following Council Action:  The Finance Departments for the City and Schools will complete the necessary budget adjustments. Motion by Ms. Lucas-Burke, and seconded by Mr. Hugel, to adopt the following ordinance, and was adopted by the following vote: “ORDINANCE TO RE-APPROPRIATE UNEXPENDED FUNDS IN THE AMOUNT OF $2,618,257 FROM THE FY 2024 PORTSMOUTH PUBLIC SCHOOLS RISK MANAGEMENT FUND BUDGET TO THE FY 2025 PORTSMOUTH PUBLIC SCHOOLS RISK MANAGEMENT FUND BUDGET. ” Ayes: Hugel, Lucas-Burke, Moody, Tillage, Glover Nays: None 24 - 316 - Adoption of an ordinance to re-appropriate unexpended funds in the amount of $717,820 from the FY 2024 Portsmouth Public Schools Textbook Fund Budget to the FY 2025 Portsmouth Public Schools Textbook Fund Budget. Background:  City Council appropriated $2,801,110 to the FY 2024 Textbook Fund Budget for the Portsmouth Public Schools (PPS).  On September 12, 2024 the Portsmouth School Board adopted a Resolution requesting that City Council appropriate a preliminary amount totaling $717,820, of which $557,815 is encumbered but unexpended funds and $160,005 is unencumbered funds, from the FY 2024 PPS Textbook Fund Budget to the FY 2025 PPS Textbook Fund Budget. Discussion:  City Council Ordinance 2023-41 states “all unspent appropriations under this ordinance or any ordinance appropriating funds for the FY 2024 Portsmouth Public Schools budget shall lapse at the end of the fiscal year, as provided under 22.1-100 of the Code of Virginia. Funds encumbered but unpaid by the end of the fiscal year will be deemed unspent appropriations that will require re-appropriation by the City Council.”  Re-appropriation Request for Encumbered Funds: PPS is requesting the re- appropriation of the preliminary amount of $514,972 for Reading and English (Grades 1- 5) and the preliminary amount of $42,843 for English as a Second Language (Grades K- 1).  Re-appropriation Request for Unspent/Carryforward Funds: PPS is requesting the re-appropriation of the preliminary amount of $160,005 related to unspent/unencumbered funds as of the end of the fiscal year.  The following table shows the impact of the proposed re-appropriation of the preliminary amount to the FY 2025 PPS Textbook Fund: Unencumbered Current Encumbered FY2024 Total Revised FY 2025 FY 2024 Re-Re-FY 2025 Fund Appropriation appropriation appropriation Appropriation Textbook Fund $1,986,945 $557,815 $160,005 $2,704,765 Financial Impact:  This is a re-allocation of previously appropriated FY 2024 PPS Textbook Fund money.  The FY 2025 PPS Textbook Fund will increase by the amount shown above. Staff Recommends:  Adoption of the ordinance.