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September 28, 1999
<br />
<br /> The Initial QZAB Resolution is hereby amended by the substitution of
<br />"$5,950,764.00" for "$4,950,764.00" in each place such a substitution is appropriate to
<br />reflect the intent of this resolution. All other terms and provisions of the Initial QZAB
<br />Resolution are hereby affirmed and shall remain in full force and effect."
<br />
<br />Ayes: Benn, Griffin, Moody, Pitts, Robinett, Whitehurst, Holley
<br />Nays: None
<br />
<br />99 - 218 - Adoption of an ordinance to appropriate $2,657,045 for fiscal year 2000 from
<br />the City General Fund for increased funding to the School Operating Budget and School
<br />Capital Improvement Program and to appropriate $1,328,522 in the School Operating
<br />Budget. The source of funding for this appropriation is State lottery proceeds made
<br />available to the school system in fiscal year 1999.
<br />
<br />Recommendation:
<br />
<br />· Adoption of an ordinance to appropriate $2,657,045 for fiscal year 2000 from the
<br />City General Fund for increased funding to the School Operating Budget and School
<br />Capital Improvement Program and to appropriate $1,328,522 in the School Operating
<br />Budget. The source of funding for this appropriation is State lottery proceeds made
<br />available to the school system in fiscal year 1999.
<br />
<br />Purpose and Need:
<br />
<br />· At the end of FY99, the school system received $2,657,045 in additional state
<br />funding from lottery proceeds. The School Board is requesting that half of these funds
<br />be used for school construction ($1,328,523) and half ($1,328,522) be used in the
<br />FY2000 School Operating Budget.
<br />
<br />· These funds were returned to the City at the end of FY99 and must be
<br />reappropriated for use in FY2000.
<br />
<br />· The budget for the City General Fund (Transfer Category) will be increased by
<br />$2,657,045 to accommodate the transfer to the CIP and increase the transfer to the
<br />schools.
<br />
<br />· The School Operating Budget, which was appropriated as a lump sum, will be
<br />increased by $1,328,522.
<br />
<br />· The appropriation of the funds for school construction is covered under Council
<br />Agenda Item 99-219.
<br />
<br />Financial Impact:
<br />
<br />· The financial impact is favorable as the State lottery proceeds are providing the
<br />source of funding for the additional appropriation.
<br />
<br /> Motion by Mr. Whitehurst, and seconded by Mr. Griffin, to adopt the following
<br />ordinance, and was adopted by the following vote:
<br />
<br />"AN ORDINANCE TO AMEND THE CITY BUDGET TO APPROPRIATE AN
<br />ADDITIONAL $2,657,045 IN THE TRANSFERS AND TURNOVER CATEGORY OF
<br />THE CITY'S GENERAL FUND FOR FY 2000 AND TO APPROPRIATE AN
<br />ADDITIONAL $1,328,522 IN THE SCHOOL OPERATING FUND CATEGORY OF THE
<br />CITY'S EDUCATION FUND FOR FY 2000."
<br />
<br />Ayes: Benn, Griffin, Moody, Pitts, Robinett, Whitehurst, Holley
<br />Nays: None
<br />
<br />99 - 219 - Adoption of an ordinance to appropriate $9,423,089 in the Capital
<br />Improvement Fund for school construction.
<br />
<br />The school system has developed a comprehensive, long-range facilities plan
<br />that identifies and prioritizes school facility needs. This plan includes a funding
<br />strategy that encompasses the use of State lottery proceeds, City general
<br />obligation bonds and school year-end savings.
<br />
<br />
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