Explanation
BACKGROUND: This ordinance authorizes an appropriation to and transfer from the anticipated expenditure fund in order to pay the costs of a 27th pay day in 2008 for employees of the general fund, as well as the health special revenue fund and recreation and parks operating fund.
The anticipated expenditure fund was established in 1994 to plan for the next occurrence of a fiscal year in which there are 27 pay days rather than the standard 26. This fund received $5.33 million in refunded monies from the Ohio Bureau of Workers Compensation in 1998, and regular deposits have been made each year since 1994. The 27th pay date will occur on December 30, 2008. The projected amount of this pay for employees funded by the general fund, the health special revenue fund and the recreation and parks operating fund is $17.8 million.
FISCAL IMPACT: This appropriation and transfer will allow for the payment of the 27th pay period obligation in 2008 for employees of the general fund, the health special revenue fund and the recreation and parks operating fund and will reduce the cash in that fund by $17,800,000. Additional deposits to the fund will continue in 2009 and beyond to ensure that there are sufficient funds to build the fund back up for the next occurrence of a 27th pay date, which is estimated to be in 2020.
Title
To appropriate $17,800,000 within the Anticipated Expenditure Fund to provide authority for payment of a 27th pay day in 2008, to transfer $17,800,000 from the Anticipated Expenditure Fund to the general fund, to appropriate $17,800,000 in the general fund, to transfer $570,000 from the general fund to the Health Special revenue Fund, to transfer $740,000 from the general fund to the Recreation and Parks Operation and Extension Fund; and to declare an emergency. ($17,800,000)
Body
WHEREAS, an appropriation within and transfer from the anticipated expenditure fund is necessary to provide for the payment of the 27th pay period obligation in 2008 for employees of the general fund, the health special revenue fund and the recreation and parks operating fund; and
WHEREAS, an emergency exists in the usual daily operation of City of Columbus, in that it is immediately necessary to appropriate and transfer funds for the aforementioned purpose for the 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 from the unappropriated monies in the Anticipated Expenditure Fund, Fund 012, the sum of $17,800,000 is appropriated to Department 45, OL1 10, OL3 5501, OCA 450012.
Section 2. That the amount of $17,800,000 is hereby transferred from Anticipated Expenditure Fund, Fund 012, Dept 45, 0CA 450012, OL3 5501 to the unappropriated balance of the general fund, fund 010.
Section 3. That from the unappropriated monies in the general fund, fund 010, appropriations are made as follows:
Attachment: Final 27th pp.xls
Section 4. That the amount of $570,000 is hereby transferred from the general fund, Fund 010, Dept 50, 0CA 900068, OL3 5501 to the unappropriated balance of the Health Special Revenue Fund, Fund 250.
Section 5. That from the unappropriated monies in the Health Special Revenue Fund, Fund 250, $570,000 be and is hereby appropriated to OL1 01, OL3 1000, OCA 500207.
Section 6. That the amount of $740,000 is hereby transferred from the general fund, Fund 010, Dept 51, 0CA 900050, OL3 5501 to the unappropriated balance of the Recreation and Parks Operation and Extension Fund, Fund 285.
Section 7. That from the unappropriated monies in the Recreation and Parks Operation and Extension Fund, Fund 285, $740,000 be and is hereby appropriated to OL1 01, OL3 1000, OCA 510024.
Section 8. That for the reasons stated in the preamble hereto, which is hereby made a part hereof, this ordinance is 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.