Title
Briefing on Fiscal Year 2019 State Budget Impacts
Purpose
On May 9, 2018, the City Council adopted a budget and appropriated monies for the General Fund of the City of Hampton, Virginia (the "City) [City and School operations] for Fiscal Year 2019. At the time of adoption, the Virginia General Assembly (the "State") had not yet approved the 2018-2020 biennium budget amendments introduced by the Governor on December 12, 2017. The City's Fiscal Year 2019 budget was adopted assuming receipt of the same amount of State revenues as was received in Fiscal Year 2018. On May 31, 2018, the State adopted a budget that increased the City's expected Fiscal Year 2019. After analyzing the impact of the state budget on the City and Schools funding, revenues are increasingby $448,640.