Explanation
Background: The Public Service Department, Transportation Division, constructs roadway improvement projects using a myriad of funding sources. These sources are segregated/identified by Fund. The State Issue Two Street Projects Fund is the fund established to receive and expend money for grants that utilize State Issue Two proceeds from the State of Ohio. This Fund operates on a cash reimbursement basis, meaning that the City first incurs a liability sanctioned by City Council then invoices eligible portions of these expenses to the State and finally deposits the proceeds received from billed reimbursements.
There should be no cash surplus or cash deficit in a grant account within this Fund at the time that a grant is closed out. Cash should be transferred from grants that have a cash surplus and grants having cash deficits must have cash transferred in to eliminate the deficits. There are several possible reasons for cash deficits existing at the time a grant is closed; these include reimbursements being less than anticipated and/or accounts receivable posting inconsistencies.
Three closed grants within the State Issue Two Street Projects Fund currently have cash deficits that must be eliminated including the Kingston Avenue Improvement grant ($38,390.98), the Group Ten Intersection Improvement grant ($113,223.23) and the Greenlawn Avenue Improvement grant ($126,054.19). These total $277,668.40. This ordinance eliminates these cash deficits by transferring available cash within and from the 1995, 1999 Voted Streets and Highways Fund to the State Issue Two Street Projects Fund.
Fiscal Impact: Monies for this purpose have been identified within the Transportation Division's 2004 Capital Improvements Budget in the 1995, 1999 Voted Streets and Highways Fund in the Federal/State Match project. This ordinance transfers cash from one Fund to another; it does not appropriate funds nor authorize any expenditure.
Emergency action is requested to eliminate the cash deficits as soon as possible in order to comply with the City Auditor's Office request.
Title
To authorize the transfer of $277,668.40 within and from the 1995, 1999 Voted Streets and Highways Fund to the State Issue Two Street Projects Fund to eliminate existing cash deficits for closed grants for the Transportation Division and to declare an emergency. ($277,668.40)
Body
WHEREAS, the Public Service Department, Transportation Division, constructs roadway improvement projects from grants within the State Issue Two Street Projects Fund; and
WHEREAS, this Fund operates on a cash reimbursement basis; and
WHEREAS, there should be no cash surplus or cash deficit in a grant account within this Fund at the time that a grant is completed and closed out; and
WHEREAS, grants having cash deficits must have cash transferred in to eliminate these deficits; and
WHEREAS, monies for this purpose have been identified within the Transportation Division's 2004 Capital Improvements Budget in the 1995, 1999 Voted Streets and Highways Fund; and
WHEREAS, an emergency exists in the usual daily operation of the Public Service Department, Transportation Division, in that it is immediately necessary to transfer monies between Funds to eliminate standing deficits in several grant accounts as soon as possible in order to comply with the City Auditor's Office request, thereby preserving the public health, peace, property, safety and welfare; now, therefore,
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS:
SECTION 1. That the City Auditor be and hereby is authorized to transfer $277,668.40 within Fund 704, the 1995, 1999 Voted Streets and Highways Fund, for Department 59-09, the Transportation Division, as follows:
TRANSFER FROM
Fund / Project # / Project / Object Level One/Object Level Three Codes / OCA Code
704 / 530208 / Federal/State Match / 06/6600 / 644385
Total Transfer From: $277,668.40
TRANSFER TO
Fund / Project # / Project / Object Level One/Object Level Three Codes / OCA Code
704 / 530208 / Federal/State Match / 10/5501 / 644385/
Total Transfer To: $277,668.40
SECTION 2. That the City Auditor be and hereby is authorized to transfer $277,668.40 between Funds as follows:
TRANSFER FROM
Fund / Project # / Project / Object Level One/Object Level Three Codes / OCA Code
704 / 530208 / Federal/State Match / 10/5501 / 644385/
Total Transfer From: $277,668.40
TRANSFER TO
Fund / Grant # / Grant / Object Level One/Object Level Three Codes / OCA Code / Amount
764 / 560003 / Kingston Avenue / 80/0886 / 560003 / $38,390.98
764 / 560007 / Group Ten Intersection Improvements / 80/0886 / 560007 / $113,223.23
764 / 561002 / Greenlawn Avenue / 80/0886 / 561002 / $126,054.19
Total Transfer To: $277,668.40
SECTION 3. That the City Auditor be and hereby is authorized to make any and all accounting adjustments that he deems necessary that are otherwise consistent with the spirit and intent of this ordinance.
SECTION 4. 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.