Explanation
BACKGROUND AND FISCAL IMPACT:
As part of the 2012 third quarter financial review, the Department of Finance and Management identified surpluses and deficits in various objects in several divisions. In order to properly align appropriations with projected expenditures and allow divisions to operate without interruption through the end of 2012, it is necessary to transfer $4,752,048 among divisions within the general fund. It is also necessary to transfer $10,000 within the land acquisition fund.
Object level one surpluses and deficits were projected as part of the third quarter financial review. This ordinance makes transfers to reflect these projections. The amounts do not mirror the third quarter review exactly, due to transfers that have occurred in the interim as well as adjustments made in projections since the release of the review.
Due to continually increasing fuel prices, this ordinance will also increase the appropriation in the fleet management fund to provide sufficient authority to pay for fuel increases.
This ordinance is submitted as an emergency so as to allow these financial transactions to be posted in the City's accounting system as soon as possible. Up to date financial posting promotes accurate accounting and financial management.
Title
To authorize and direct the City Auditor to provide for the transfer of $4,752,048.00 within the general fund; to authorize the transfer of $10,000.00 within the land acquisition fund; to authorize an appropriation of $1,187,713.00 in the fleet management fund; to properly align appropriations with projected expenditures and allow divisions to operate without interruption through the end of 2012; and to declare an emergency ($4,752,048.00).
Body
WHEREAS, the third quarter financial review conducted by the Department of Finance and Management identified surpluses and deficits in the various objects of several general fund divisions; and
WHEREAS, it is necessary to transfer funds between objects and divisions, to increase an appropriation, and to cancel certain encumbering documents in order to allow divisions to continue to operate through the end of 2012; and
WHEREAS, it is necessary to increase the appropriation in the fleet management fund to pay for increasing fuel costs; and
WHEREAS, it is necessary to transfer funds between objects in the land acquisition fund to cover personnel costs; and
WHEREAS, 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, promoting accurate accounting and financial management.
WHEREAS, an emergency exists in the usual daily operation of the City of Columbus in that it is immediately necessary transfer funds for the immediate preservation of the public, health, peace, property, safety and welfare; 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 $4,752,048 between various divisions and objects within the general fund, fund 010, as follows:
Attachment: 2012 3rd Quarter trx.xls
SECTION 2. That the City Auditor is hereby authorized and directed to transfer $10,000 within the land acquisition fund, fund 525, from Division 24-03, OCA 240309, OL1: 03 to Division 24-03, OCA 240309, OL1: 01.
SECTION 3. That the City Auditor is hereby authorized and directed to transfer the following appropriations within the fleet management fund, fund 513, subfund 001, Division 45-05:
From:
OCA Object Level 1 Amount
451206 01 $175,000
451206 06 $50,000
451206 07 $84,000
To:
OCA Object Level 1 Amount
451206 02 $309,000
SECTION 4. That the City Auditor is hereby authorized and directed to appropriate $1,007,713 in the fleet management fund, fund 513 to the Fleet Management Division, Division 45-05, OCA 451206, Object Level 1 - 02, Object Level 3 - 2000.
SECTION 5. That the City Auditor is hereby authorized and directed to appropriate $180,000 in the fleet management fund, fund 513 to the Fleet Management Division, Division 45-05, OCA 451206, Object Level 1 - 03, Object Level 3 - 3000.
SECTION 6. That the City Auditor is hereby authorized and directed to increase encumbrances by a total of $1,187,713 in OL3 3380, fleet maintenance for encumbering documents as follows:
Doc. No. OCA Amount
EA008287/032 591602 170,633
EA008287/033 591834 170,633
EA008287/034 592642 170,633
EA008762/008 301580 406,885
EA008762/009 301531 268,929
SECTION 7. 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 passage and approval by the Mayor, or ten days after passage if the Mayor neither approves nor vetoes the same.