Explanation
Background:
This ordinance will transfer $125,000.00 between Objects within the Recreation and Parks Operating Fund 285 to properly align appropriations in order to complete necessary expenditure pertaining to utility costs and meet recreation and maintenance supply expenses through the end of 2006.
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 action is required to have funding available for necessary expenditures.
This ordinance is done in conjunction with the 2006 Third Quarter Review.
Fiscal Impact:
$125,000.00 is being transferred between Objects within the Recreation and Parks Operating Fund 285, as shown in Section 1 of this ordinance.
Title
To authorize and direct the transfer of $125,000.00 between Objects within the Recreation and Parks Operating Fund 285 to properly align appropriations in order to complete necessary expenditures pertaining to utility costs and recreation and maintenance supply expences through the end of 2006, and to declare an emergency. ($125,000.00)
Body
WHEREAS, it is necessary to properly align appropriations in order to complete necessary expenditures pertaining to utilities and recreation and maintenance supply expenses; and
WHEREAS, an emergency exists in the usual daily operation of the City of Columbus in that it is immediately necessary to transfer said funds to have funding available for necessary expenditures; now, therefore
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS:
SECTION 1. That the transfer of $125,000.00 between Objects within the Recreation and Parks Operating Fund be and is hereby authorized to properly align appropriations in order to complete necessary expenditures pertaining to utility and recreation and maintenance supply expenses, as follows:
FROM:
Fund No. OCA Code Object Level 3 Amount
285 510107 1160 $ 15,000.00
285 510107 1166 $ 90,000.00
285 510107 1173 $ 20,000.00
TOTAL $125,000.00
TO:
Fund No. OCA Code Object Level 3 Amount
285 510495 2273 $15,000.00
285 510297 2269 $10,000.00
285 510297 3314 $100,000.00
TOTAL $125,000.00
SECTION 2. That the City Auditor is hereby authorized to transfer the unencumbered balance in a project account to the unallocated balance account 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 are no longer required for said project; except that no transfer shall be so made from a project account funded by monies from more than one source.
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.