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To amend Ord. No. 2024-099, adopted May 13, 2024, which adopted the Fiscal Year 2024-2025 General Fund Budget and made appropriations pursuant thereto, by increasing estimated revenues from real estate taxes by $12,000,000.00 and appropriating the increased revenues to new line items within the “Non Departmental & Central Appropriations” budget and various departments.
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THE CITY OF RICHMOND HEREBY ORDAINS:
§ 1. That Ordinance No. 2024-099, adopted May 13, 2024, which adopted a General Fund Budget for the fiscal year commencing July 1, 2024, and ending June 30, 2025, and made appropriations pursuant thereto, be and is hereby amended by:
(a) Increasing estimated revenues from real estate taxes by $12,000,000.00; and
(b) Appropriating $12,000,000.00 in estimated revenues described in subsection (a) of this section to new line items within the “Non Departmental & Central Appropriations” budget and various departments, as set forth on the document entitled “Attachment 1 - General Fund Amendment,” a copy of which is incorporated into a made a part of this ordinance.
§ 2. That, for the avoidance of doubt, $2,000,000.00 of the estimated revenues described in subsection (a) of section 1 of this ordinance appropriated to the line item entitled “EDA for Affordable Housing Activities” within the “Non Departmental & Central Appropriations” budget, as set forth on the document entitled “Attachment 1 - General Fund Amendment,” a copy of which is incorporated into a made a part of this ordinance, be and is hereby authorized to be disbursed to the Economic Development Authority of the City of Richmond to support affordable housing initiatives.
§ 3. That any unexpended amounts of the appropriation for the line item entitled “Local Social Services Board (for the Gap Grant program)” within the “Non Departmental & Central Appropriations” budget, as set forth on the document entitled “Attachment 1 - General Fund Amendment,” a copy of which is incorporated into a made a part of this ordinance, shall not lapse at the end of the fiscal year commencing July 1, 2024, and ending June 30, 2025, and shall not revert to the general fund balance, as that term is defined by section 12-241 of the Code of the City of Richmond (2020), as amended, but shall remain in force until expended, revised, or repealed to the extent permitted by law. Any such unexpended amounts shall be accounted for by the Director of Finance in accordance with generally accepted accounting principles and shall be available for appropriation in the fiscal year commencing July 1, 2025, and ending June 30, 2026, for the purpose of funding the line item entitled “Local Social Services Board (for the Gap Grant program)” within the “Non Departmental & Central Appropriations” budget, as set forth on the document entitled “Attachment 1 - General Fund Amendment,” a copy of which is incorporated into a made a part of this ordinance.
§ 4. This ordinance shall be in force and effect upon adoption.