Title
Resolution to Amend the Fiscal Year 2027 City Council Approved Budget to Appropriate $2,343,690 of Fiscal Year 2026 State Carryover Funds to the General Fund's School Operating Fund to Offset the Impact of the Fiscal Year 2027 State Revenue Adjustments
Purpose
PURPOSE/BACKGROUND:
The School Board of the City of Hampton is requesting the appropriation of $2,343,690 in fiscal year 2026 state carryover funds to offset the impact of fiscal year 2027 state revenue reductions. If the reductions do not occur, the funds will be spent on one-time operational and instructional expenditures, the Academies of Hampton, and other one-time expenditures.
This appropriation request is authorized by Chapter 7, 2026 Acts of Assembly, Item 125, Paragraph B.23.b, which provides that any locality that has met its required local effort for the Standards of Quality accounts for FY 2026 and that has met its required local match for incentive or Lottery-funded programs in which the locality elected to participate in FY 2026 may carry over into FY 2027 any remaining state Direct Aid to Public Education fund balances available to help minimize any FY 2027 revenue adjustments that may occur in state funding to that locality. Localities electing to carry forward such unspent state funds must appropriate the funds to the school division for expenditure in FY 2027.
Recommendation:
Rec
Approve.
Body
WHEREAS, Chapter 7, 2026 Acts of Assembly, Item 125, Paragraph B.23.b permits school divisions that have met required local effort for Standards of Quality accounts and required local match for incentive or Lottery-funded programs in which the locality elected to participate in for fiscal year 2026 to carry forward fiscal year 2026 unexpended state funds to fiscal year 2027 to help minimize the impact of any fiscal year 2027 state revenue adjustments to the school division;
WHEREAS, the School Board of the City of Hampton, Virginia has c...
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