Title
Resolution to Approve the City's Participation in All Programs Incorporated in the Commonwealth's Approved Budget for Fiscal Year 2025
Purpose
PURPOSE/BACKGROUND:
See Discussion.
Discussion:
Hampton City Charter Section 6.12(a) stipulates the type of and manner by which supplemental appropriations may be made after a budget has been adopted. That section provides, in part, that supplemental appropriations may be made by City Council, by resolution, not to exceed the unanticipated revenue from the Commonwealth or federal sources where City Council has previously or currently approved the City's participation in such programs. Virginia operates under a biennial (two-year) budget cycles, with initial budgets adopted in even years and amendments adopted in odd years. The Governor, Senate, and House of Delegates have not yet finalized the 2025-2026 budget, however it is anticipated that when approved it may include new revenue sources, including, but not limited to, a digital sales tax (to be imposed on video games, smart phone apps, and music and other streaming services) and a tax on skill games. That approval is not expected until mid-June or later. City Council will approve its budget on May 8, 2024.
The purpose of this resolution is to approve the City's participation in any and all new programs and revenue sources it may be eligible to receive through the Commonwealth's FY 2025 budget, once it is approved, so as to be eligible and accessible for supplemental appropriation during FY 2025 and spent to further Council priorities.
Impact:
Any additional, unanticipated funding received from the Commonwealth will allow Council to move forward with additional projects and priorities that have currently been deferred.
Recommendation:
Rec
Recommend Approval.
Body
WHEREAS, Hampton City Charter Section 6.12(a) stipulates the type of and manner by which supplemental appropriations may be made after a budget has been a...
Click here for full text