Explanation
This legislation transfers a total of $1,500,000.00 from Object Level 1 06 to Object Level 1 03 within the Sewerage System Operating Fund 650. The need to transfer funding within the operating budget was identified in the third quarter budget review. The transfer is requested to cover anticipated expenses for Ohio Water Development Authority loan fees, utilitiy costs and rental of construction equipment.
This legislation is requested to be an emergency so that funding will be made available as soon as possible so OWDA fees are paid before the end of Fiscal Year 2003, Equipment Rental expenses can be paid for projects performed in 2003 and to cover increased 2003 Electricity costs.
FISCAL IMPACT: Sufficient appropriation is available in Object Level 06 for this requested transfer to Object Level 1 03.
Title
To authorize the City Auditor to transfer of $1,500,000.00 within the Sewerage System Operating Fund to align budget authority with projected expenditures and to declare an emergency. ($1,500,000.00)
Body
WHEREAS, anticipated expenditures in Ohio Water Development Authority loan fees, utility costs and rental of construction equipment within Character 03 for the remainder of the 2003 Fiscal Year necessitates the transfer of funds within the Sewerage System Operating Fund; and,
WHEREAS, available appropriation in Object Level 1 06 can be transferred to Object Level 1 03; and,
WHEREAS, an emergency exists in the usual daily operations of the Division of Sewerage and Drainage, Department of Public Utilities, in that it is immediately necessary to transfer appropriation within the Sewerage System Operating Fund 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 l. That the Finance Director be and he is hereby authorized and directed to transfer $1,500,000.00 within the Sewerage System Operating Fund 650, Dept/Div. No. 60-05 as follows:
FROM
Object Level 06
OCA: 604793
Object Level 3: 6624
Amount: $750,000.00
Object Level 06
OCA: 604819
Object Level 3: 6624
Amount: $750,000.00
Total From 06: $1,500,000.00
TO:
Object Level 03
OCA: 605931
Object Level 3: 3302
Amount: $500,000.00
Object Level 03
OCA: 605931
Object Level 3: 3314
Amount: $500,000.00
Object Level 03
OCA: 605931
Object Level 3: 3390
Amount: $500,000.00
Total To 03: $1,500,000.00
Section 2. 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 disapproves the same.