Title
Resolution to Amend the City Council Approved Fiscal Year 2025 Budget to Accept and Appropriate to the General Fund’s School Operating Fund $13,906,613 of Additional State Funds
Purpose
PURPOSE/BACKGROUND:
The School Board of the City of Hampton (“School Board”) is requesting the acceptance and appropriation of $ 13,906,613 in additional state funds adopted and authorized by the Virginia General Assembly during its 2024 Special Session I through amendments enacted to the Fiscal Year 2024 Budget and the enactment of the biennial budget for Fiscal Years 2024-2026. Those actions were approved by the Senate and House of Delegates on May 13, 2024, and signed into law by the Governor on the same day. And, the request was approved by the School Board at its regular meeting held on June 5, 2024.
The FY 2024 amendments (enacted in Chapter 1 of HB 6002; the Caboose Budget) and the 2024 -2026 Budget Bill (enacted in Chapter 2 of HB 6001) primarily increase Direct Aid distributions to school divisions. The School Board will expend those fund in accordance with direction received from the General Assembly, or the Department of Education in furtherance of and consistent with an action of the General Assembly.
Discussion:
See Purpose/Background.
Impact:
Provides additional financial stability to Hampton Schools.
Recommendation:
Rec
Conduct public hearing; Approve the resolution.
Body
WHEREAS, the General Assembly, during its 2024 Special Session I, enacted the biennial budget for Fiscal Years 2024-2026 (enacted in Chapter 2 of HB 6001) and amendments to the Fiscal Year 2024 Budget (enacted in Chapter 1 of HB 6002; the Caboose Budget);
WHEREAS, by those actions authorized additional fiscal year 2024 and 2005 State Direct Aid to school divisions and the School Board of the City of Hampton ("School Board"), Virginia is projected to receive an additional $13,906,613; and
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