Subject:
Title
Consider a supplemental appropriation for the purchase of land for a new school in the amount of $5,025,000
body
Presented By: City Staff
Recommendation and Review
This supplemental appropriation will appropriate $5,025,000 (including an allowance for closing costs) to fund the purchase of land for a new school. Funds are available in the General Fund’s unappropriated fund balance.
This supplemental appropriation represents an increase of over 1% of the total city budget. Code of Virginia Section 15.2-2507 requires a public hearing for budget amendments that exceed 1% of the budget.