Explanation
BACKGROUND: This legislation authorizes the transfer of funds within the Voted 1995, Voted 1999 Street Lighting and Electricity Distribution Improvements Fund and the Electricity Bonds Fund for reimbursement to the Division of Electricity for labor and equipment costs incurred in the installation of various street lighting projects from May 7, 2003 through October 15, 2003. This legislation also amends the 2003 Capital Improvements Budget to reflect additional authority made available from the cancellations of an auditor's certificate and contract balances for completed street lighting projects.
Emergency action is requested in order that the financial transactions and reimbursement to the division may be completed prior to the end of the year.
FISCAL IMPACT: There is adequate funding in the Voted 1995, Voted 1999 Street Lighting and Electricity Distribution Improvement Fund and the Electricity Bonds Fund for this reimbursement, however, a transfer between projects within the fund is necessary to provide funding in the appropriate projects.
Title
To amend the 2003 Capital Improvements Budget, to authorize the transfer of $96,716.04 between projects within the Voted 1995, Voted 1999 Street Lighting and Electricity Distribution Improvements Fund; to authorize the transfer of $3,701.22 between projects within the Electricity Bonds Fund; to authorize the reimbursement to the Division of Electricity for labor and equipment costs incurred in the installation of various street lighting projects; to authorize the expenditure of $141,675.02 from the Voted 1995, Voted 1999 Street Lighting and Electricity Distribution Improvement Fund; to authorize the expenditure of $3,701.22 from Electricity Bonds Fund; and to declare an emergency. ($145,376.24)
Body
WHEREAS, the Division of Electricity has incurred costs for labor and equipment necessary for the installation of various street lighting projects from its operating fund; and
WHEREAS, it is necessary to reimburse the Division of Electricity for costs incurred in the construction of various street lighting projects; and
WHEREAS, it is necessary to transfer funds and budget authority within the Voted 1995 and 1999 Street Lighting and Electricity Distribution Improvements Fund and the Electricity Bonds Fund to provide funding for the reimbursement to the Division of Electricity; and
WHEREAS, it is necessary to amend the 2003 Capital Improvements Budget to reflect the additional authority made available from the cancellations of an auditors certificate and contract balances of completed projects; and
WHEREAS, an emergency exists in the usual daily operations of the Department of Public Utilities, Division of Electricity, in that it is immediately necessary to reimburse the Division of Electricity for labor and equipment costs incurred in the installation of various street lighting projects 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 1. That Section 1 of the 2003 Capital Improvements Budget Ordinance No. 1943-2003, passed July 28, 2003, is hereby increased to reflect the additional authority made available from the cancellations of an auditors certificate and contract balances of completed projects to provide sufficient budget authority for reimbursement to the Division of Electricity for labor and equipment costs incurred in the construction of various street lighting projects as shown on the attached spreadsheet ORD2443-2003budget.xls.
SECTION 2. That the City Auditor is hereby authorized and directed to transfer $96,716.04 within the Voted 1995 and 1999 Street Lighting and Electricity Distribution Improvements Fund No. 553 and $3,701.22 within the Electricity Bonds Fund No. 582, as shown on the attached spreadsheet ORD2443-2003funding.xls.
SECTION 3. That reimbursement to the Division of Electricity is hereby authorized for labor and equipment costs incurred in the installation of various street lighting projects up to an amount not to exceed $145,376.24.
SECTION 4. That to pay the cost of the aforesaid reimbursement to the Division of Electricity, the expenditure up to an amount not to exceed $145,376.24, or so much thereof as may be needed, be and is hereby authorized in the amount of $141,675.02 from Division of Electricity, Division No. 60-07, Voted 1995, Voted 1999 Street Lighting and Electricity Distribution Improvement Fund 553, and in the amount of $3,701.22 from Electricity Bonds Fund 582, and is to be disbursed as shown on attachment ORD2443-2003funding.xls.
SECTION 5. 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.