Explanation
1. BACKGROUND
This ordinance authorizes the Director of Finance and Management to amend the 2023 Capital Improvement Budget for Department of Public Utilities budget amendments that could not be processed during the transition from the 2022 Capital Budget to the 2023 Capital Budget.
During passage of the annual capital budget, it is necessary to stop all budget amendments during the transition time required for the new budget to pass. Budget amendments that would normally be processed as cancellations are received, or as ordinances are approved by Council, during this transition time are held and must be caught-up after the budget has passed. This ordinance authorizes the Director of Finance and Management to catch-up the budget amendments that could not be processed during the transition from the 2022 Capital Budget to the 2023 Capital Budget.
2. FISCAL IMPACT
This ordinance does not authorize an expenditure. Budget amendments will be processed to reflect cancellations processed or ordinances approved by Council for the Department of Public Utilities during the transition from the 2022 Capital Improvement Budget to the 2023 Capital Improvement Budget.
Title
To authorize the Director of the Department of Finance and Management to amend the 2023 Capital Improvement Budget to reflect transactions that could not be processed during the transition from the 2022 Capital Improvement Budget to the 2023 Capital Improvement Budget. ($0.00)
Body
WHEREAS, the 2023 Capital Improvement Budget was recently adopted by Columbus City Council; and
WHEREAS, budget amendments cannot be processed while awaiting passage of a new capital improvement budget; and
WHEREAS, the Department of Public Utilities submitted several ordinances for passage by City Council, and several cancellations for processing, during the transition period from the 2022 Capital Improvement Budget to the 2023 Capital Improvement Budget which required budget amendments; and
WHEREAS, these budget amendments must be processed; NOW, THEREFORE,
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS:
SECTION 1. That the 2023 Capital Improvement Budget authorized by Ordinance 1711-2023 be amended per the accounting template attached to this ordinance to reflect budget amendments and cancellations submitted by the Department of Public Utilities that could not be processed during the transition period from the 2022 Capital Improvement Budget to the 2023 Capital Improvement Budget.
SECTION 2. That this ordinance shall take effect and be in force from and after the earliest period allowed by law.