Explanation
The purpose of this legislation is to authorize the City Auditor to transfer funds within the Electricity Operating Fund to allow for the purchase of needed supplies & materials. This transfer is needed due to a variety of price increases in the supplies & materials we purchase. The average price increase is 50%, but increases have ranged as high as 315%.
FISCAL IMPACT: There is sufficient budget authority available in the 2022 Electricity Operating Fund’s Budget to fund the transfer, which totals $125,000.00.
EMERGENCY DESIGNATION: This ordinance is being submitted as an emergency in order to align budget authority with projected expenditures and to provide for the timely purchase of critical supplies and materials.
Title
To authorize the City Auditor to transfer $125,000.00 between Object Classes within the Electricity Operating Fund Budget to allow for the purchase of critical supplies and materials and to declare an emergency. ($125,000.00).
Body
WHEREAS, prices for critical supplies & materials used by the Division of Power are trending much higher than was anticipated at the time of budget submission; and
WHEREAS, the Division of Power has a need to transfer $125,000.00 between Object Classes within the 2022 Electricity Operating Fund’s Budget. Funds for the transfer have been identified and are available in Object Class 01 (Personal Services); and
WHEREAS, an emergency exists in the usual daily operation of the Department of Public Utilities, Division of Power, in that it is immediately necessary to transfer appropriation between Object Classes within the Electricity Operating Fund to allow for the timely purchase of critical supplies & materials; now, therefore,
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS:
SECTION 1. That the transfer of $125,000.00 or so much thereof as may be needed, is hereby authorized between Object Classes within Fund 6300 Electricity Operating Fund per the accounting codes in ...
Click here for full text