Explanation
BACKGROUND: This legislation authorizes the City Auditor to allow the Division of Power to use bond fund monies to reimburse the operating fund for capital eligible costs incurred for new customer development in 2013, in the amount of up to $200,000.00
The Division of Power may incur some operating costs such as material and supplies that are capital eligible for new customers to convert to the City's as their power provider. To allow for the offset of these costs, the Division of Power will be reimbursed from the capital fund as costs are incurred by the Division of Power for providing power service to new customers in the Division's service area.
EMERGENCY DESIGNATION: The Department of Public Utilities is requesting City Council to consider this legislation an emergency measure, so that there will be sufficient cash to pay operating expenses through the end of the year.
FISCAL IMPACT: A transfer of cash and an amendment to the 2013 Capital Improvements Budget is necessary to establish sufficient amounts in the proper project accounts for this reimbursement.
Title
To authorize the City Auditor to allow the Division of Power to use bond fund monies to reimburse the operating fund; to transfer $200,000.00 within the Electricity G.O. Bonds Fund; to amend the 2013 Capital Improvements Budget for costs incurred for new customer development; and to declare an emergency. ($200,000.00)
Body
WHEREAS, various costs are incurred within the Division of Power's operating fund for new customer development; and
WHEREAS, it is necessary to reimburse the operating fund for these costs throughout 2013; and
WHEREAS, the costs for the operating fund reimbursement will be from the capital bonds funds; and
WHEREAS, it is necessary to transfer funds within the Electricity G.O. Bonds Funds, for purposes of providing sufficient cash for the aforementioned reimbursement; and
WHEREAS, it is necessary to authorize an amendment to the 2013 Capital Improvements Budget for purposes of providing sufficient expenditure authority for the aforementioned reimbursement; 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 reimburse the Power Operating Fund so that there is sufficient cash to pay operating expenses through the end of the year, and for the preservation of public health, peace, property and safety; now therefore,
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS:
SECTION 1. That the City Auditor is hereby authorized and directed to transfer $200,000.00 within the Electricity G.O. Bonds Fund, Fund No. 553, Object Level Three 6625, Division of Power, Division 60-07, as follows:
Project No. | Project Name | OCA | Change
670608-100000 | Distribution System Improvements | 670608 | -$200,000.00
670105-100000 | New Customer Development | 675041 | +$200,000.00
SECTION 2. That the City Auditor is hereby authorized to transfer any unencumbered balance in a project account to the unallocated balance within the same fund upon receipt of certification by the Director of the Department administering said project that the project has been completed and the monies no longer required for said project.
SECTION 3. That the City Auditor is authorized to make any accounting changes to revise the funding source for all contracts or contract modifications associated with this Ordinance.
SECTION 4. That the funds necessary to carry out the purpose of this ordinance are hereby deemed appropriated, and the City Auditor shall establish such accounting codes as necessary.
SECTION 5. That the 2013 Capital Improvements Budget within the Electricity G.O. Bonds Fund, Fund 553, is hereby amended as follows:
Project No. | Project Name | Current Authority | Revised Authority | Change
670608-100000 | Distribution System Improvements | $1,071,002 | $871,002 | -$200,000
670105-100000 | New Customer Development | $0 | $200,000 | +$200,000
SECTION 6. That the expenditure up to an amount not to exceed $200,000.00, is hereby authorized to reimburse costs incurred for new customer development within the Division of Power, Division No. 60-07, Electricity G.O. Bonds Fund, Fund 553, to the Power Operating Fund, via internal billing, Object Level Three 6625, New Customer Development, Project No. 670105-100000, OCA 675041.
SECTION 7. That for 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 passage and approval by the Mayor, or ten days after passage if the Mayor neither approves nor vetoes the same.