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To amend Ord. No. 2023-071, adopted May 8, 2023, which adopted the Fiscal Year 2023-2024 General Fund Budget and made appropriations pursuant thereto, to (i) increase General Fund revenues by an amount equal to ten percent of the calculated general fund surplus for the Fiscal Year 2022-2023, (ii) create a new line item entitled “HumanKind” in the Non-Departmental Agency, and (iii) appropriate such amount to such new line item in the Non-Departmental agency, for the purpose of providing additional funding for families of the city of Richmond experiencing crisis.
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THE CITY OF RICHMOND HEREBY ORDAINS:
§ 1. That Ordinance No. 2023-071, adopted May 8, 2023, which adopted a General Fund Budget for the fiscal year commencing July 1, 2023, and ending June 30, 2024, and made appropriations pursuant thereto, is hereby amended by
(a) Increasing General Fund revenues by an amount equal to ten percent of the calculated general fund surplus for the fiscal year commencing July 1, 2022, and ending June 30, 2023, as “calculated general fund surplus” is defined by section 12-241 of the Code of the City of Richmond (2020), as amended, and in accordance with subsection (a)(3) of section 12-242 of the Code of the City of Richmond (2020), as amended;
(b) Creating a new line item in the Non-Departmental agency entitled “HumanKind;” and
(c) Appropriating the funds identified in subsection (a) of this section to the new line item in the Non-Departmental agency created by subsection (b) of this section entitled “HumanKind” for the purpose of providing additional funding for families of the city of Richmond experiencing crisis.
§ 2. This ordinance shall be in force and effect upon the date of the letter of transmittal included in the City’s Annual Comprehensive Financial Report for the fiscal year commencing July 1, 2022, and ending June 30, 2023.
DATE: September 28, 2023
TO: The Honorable Members of City Council
THROUGH: The Honorable Mayor
THROUGH: Lincoln Saunders, Chief Administrative Officer
THROUGH: Sabrina Joy-Hogg, DCAO for Finance and Administration
THROUGH: Sheila White, Director of Finance
FROM: Jason May, Director of Budget and Strategic Planning
RE: To appropriate the ten percent special purpose reserve from the FY 2023 surplus
ORD. OR RES. No.
PURPOSE: To amend Ord. No. 2023-071, adopted May 8, 2023, which adopted the Fiscal Year 2023-2024 General Fund Budget and made appropriations pursuant thereto, by increasing General Fund revenues by the ten percent special purpose reserve from the FY 2023 surplus, per the City’s fund balance policy, and appropriating such amount to a new Non-Departmental Budget line-item titled HumanKind for the purpose of providing additional family crisis funding.
BACKGROUND: Per the City’s Fund Balance Policy, up to ten percent of any year surplus may be assigned for a special purpose reserve. Special purpose reserves must be only for one-time, non-recurring purposes and may not be for an installment or phase of a multi-installment or multi-phase project. As part of the FY 2023 year-end surplus, the ten percent special purpose reserve was set aside for additional family crisis funding. The Administration has identified HumanKind as the organization to continue this effort.
COMMUNITY ENGAGEMENT: N/A
STRATEGIC INITATIVES AND OTHER GOVERNMENTAL: Community assistance
FISCAL IMPACT: Amending the FY 2024 General Fund budget to appropriate the ten percent special purpose reserve from the FY 2023 surplus to be used for additional family crisis funding.
DESIRED EFFECTIVE DATE: Upon the date of the letter of transmittal included in the Annual Comprehensive Financial Report for Fiscal Year 2023.
REQUESTED INTRODUCTION DATE: October 10, 2023
CITY COUNCIL PUBLIC HEARING DATE: November 14, 2023
REQUESTED AGENDA: Consent
RECOMMENDED COUNCIL COMMITTEE: Committee waived.
AFFECTED AGENCIES: Budget and Strategic Planning, Finance, etc.
RELATIONSHIP TO EXISTING ORD. OR RES.: 2023-071
ATTACHMENTS: N/A
STAFF: Meghan Brown, Senior Manager