City of Columbus - File #: 1053-2011

• File #: 1053-2011
• Version: 1
• Type: Ordinance
• Status: Passed
• File created: 6/24/2011
• In control: Finance Committee
• On agenda: 7/11/2011
• Final action: 7/13/2011
• Title: To amend the 2011 Capital Improvements Budget to be in line with the upcoming bond sale; and declare an emergency.

Date	Ver.	Action By	Action	Result
7/13/2011	1	CITY CLERK	Attest
7/12/2011	1	MAYOR	Signed
7/11/2011	1	Columbus City Council	Approved	Pass
7/11/2011	1	COUNCIL PRESIDENT	Signed
7/1/2011	1	Finance Drafter	Sent to Clerk's Office for Council
6/30/2011	1	City Clerk's Office	Sent back for Clarification/Correction
6/29/2011	1	Finance Drafter	Sent to Clerk's Office for Council
6/28/2011	1	Auditor Reviewer	Reviewed and Approved
6/28/2011	1	CITY AUDITOR	Reviewed and Approved
6/27/2011	1	Finance Drafter	Sent for Approval
6/24/2011	1	Finance Drafter	Sent for Approval
6/24/2011	1	FINANCE DIRECTOR	Reviewed and Approved

Explanation

Background: This ordinance authorizes the amendment of the 2011 Capital Improvements Budget (CIB) for the various city departments and divisions. This will align the needed authority by project with the funds issued in the proposed July 2011 Bond Sale for each of these departments/divisions.

Emergency action: This ordinance is submitted as an emergency so as to allow the financial transaction to be posted in the City's accounting system as soon as possible. Up to date financial posting promotes accurate accounting and financial management.

Fiscal impact: This legislation will amend the authority in the 2011 CIB so that it will be in line with the needed funds issued through the proposed July 2011 Bond Sale.

Title

To amend the 2011 Capital Improvements Budget to be in line with the upcoming bond sale; and declare an emergency.

Body

WHEREAS, it is necessary to align the 2011 Bond Sale Proceeds with the needed authority for each project involved; and

WHEREAS, the 2011 Capital Improvements Budget (CIB) is hereby amended to reflect the abovementioned authority needs; and

WHEREAS, an emergency exists in the usual operation of the City in that it is immediately necessary to make said amendment to allow the financial transaction to be posted in the City's accounting system as soon as possible; now therefore

BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS:

SECTION 1: That the 2011 CIB ordinance number 0266-2011, passed on March 7th, be amended as follows:

See Attached File 2011 Bond Sale Amend.xls.

SECTION 2: That the Director of Finance and Management or designee is authorized to make any amendments to the Capital Improvement Budget within each project category as deemed necessary.

SECTION 3: That for the reasons stated in the preamble hereto, which is hereby made a part hereof, this ordinance is hereby declared to be an emergency measure and shall take effect and be in force from and after its pa...