Explanation
BACKGROUND:
This legislation will authorize the transfer of $55,00.00 within the Recreation and Parks Operating Fund to have monies in the proper account to meet the necessary expenditure regarding the Trask-Tyler case settlement.
This ordinance is submitted as an emergency 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. Additionally, emergency legislation is necessary to allow funding to be available for necessary expenditure.
FISCAL IMPACT:
$55,000.00 is being transferred within the Recreation and Parks Operating Fund, as shown in Section 2 of this ordinance.
Title
To authorize and direct the transfer of $55,000.00 within the Recreation and Parks Operating Fund to complete a necessary expenditure regarding the Trask-Tyler case settlement, and to declare an emergency. ($55,000.00)
Body
WHEREAS, funds from reimbursable expenses of general funds are being transferred to meet the necessary expenditure regarding the Trask-Tyler case; and
WHEREAS, an emergency exists in the usual daily operation of the City of Columbus in that it is immediately necessary to appropriate and transfer said funds 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 amount of $55,000.00 is hereby authorized to be transferred within the Recreation and Parks Operating Fund, as follows:
SECTION 2. That the transfer of $55,000.00 within the Recreation and Parks Operating Fund be and is hereby authorized to provide funds to complete a necessary expenditure regarding the Trask-Tyler case settlement, as follows:
FROM:
Object
Fund No. Dept. No. OCA Code Level 3 Amount
285 51-01 510297 2206 $25,000.00
285 51-01 510297 2212 11,000.00
285 51-01 510255 2217 19,000.00
TOTAL $55,000.00
TO:
Fund Type Dept. Fund Object Level 3 OCA Code Amount
Operating 51-01 285 5533 510289 $55,000.00
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 passage and approval by the Mayor, or ten days after passage if the Mayor neither approves nor vetoes the same.