Explanation
BACKGROUND: This legislation authorizes the City Auditor to transfer a total of $29,097.36 within the Storm Sewer Bond Fund; and amends the 2004 Capital Improvements Budget so as to allow sufficient funds and authority to provide the necessary funds to construct the stormwater improvements at the intersection of Lane Avenue and Tuller Street. The Division of Transportation is contracting with Savko and Sons for street improvements and it is cost effective to the City to include the storm improvements in their contract. These funds are only for construction related expenses for the storm improvement. Stormwater's portion is this project will be $64,097.36.
EMERGENCY DESIGNATION: This ordinance is submitted as an emergency so as to allow the funds and authority to be immediately available for the storm sewer improvements to be included with the Division of Transportation's construction project at the intersection of Lane Avenue and Tuller Street.
FISCAL IMPACT: The project for which this legislation requests fund transfer currently has insufficient balances to allow for the aforementioned expenditure. This transfer does not reflect any changes to the projects planned in the 2004 Capital Improvements Budget (CIB). The changes are a temporary measure for the project that is being constructed to maintain efficient cash flow within Stormwater CIB Funds will be made available for all approved projects as needed.
Title
To authorize the City Auditor to make an intra-subfund transfer of $29,097.36 within the Storm Sewer Bonds Fund for the Division of Sewerage and Drainage to provide the necessary capital projects funds for stormwater improvements at the intersection of Lane Avenue and Tuller Street; to authorize an amendment to the 2004 Capital Improvements Budget to accommodate this transaction; and to declare an emergency. ($29,097.36)
Body
WHEREAS, it is required in the usual daily operation of the Division of Sewerage and Drainage, Department of Public Utilities, to maintain, upgrade and expand its storm sewer collection system; and
WHEREAS, it is necessary to transfer funds within the Storm Sewer Bonds Fund for stormwater improvements at the intersection of Lane Avenue and Tuller Street; and
WHEREAS, it is necessary to authorize an amendment to the 2004 Capital Improvements Budget for purposes of providing sufficient funding and spending authority for the aforementioned project expenditure; and
WHEREAS, this transfer does not adversely affect any project in the 2004 Capital Improvements Budget; and
WHEREAS, an emergency exists in the usual daily operation of the Division of Sewerage and Drainage, Department of Public Utilities, in that it is immediately necessary to authorize the City Auditor to transfer funds within the Storm Sewer Bonds Fund; and to amend the 2004 Capital Improvements Budget to execute the aforementioned capital project related transaction, in order to help keep the project on schedule for the preservation of the public health, peace, property and safety; now, therefore,
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS:
Section 1. That the City Auditor is hereby authorized to transfer $29,097.36 within the Storm Sewer Bonds Fund, Fund 685, Division of Sewerage and Drainage, Division 60-15, as follows:
TRANSFER FROM: 610824; 685824; Dry Run Flood Routing at Valleyview
TRANSFER TO: 610722; 685722; Iuka Ravine Park
Section 2. That the City Auditor is hereby authorized and directed to transfer any unencumbered balance in the project account to the unallocated balance 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 no longer required for said project; except that no transfer shall be made from a project account by monies from more than one source.
Section 3. That the City Auditor is authorized to establish proper project accounting numbers as appropriate.
Section 4. That the 2004 Capital Improvements Budget Ordinance No. 1059-2004 is hereby amended as follows, in order to establish sufficient funding authority:
CURRENT:
610824: Dry Run @ Valleyview - $2,908,626.00
610722: Iuka Ravine Park - $35,000.00
AMENDED TO:
610824: Dry Run @ Valleyview - $2,879,528.00 (-$29,098.00)
610722: Iuka Ravine Park - $64,098.00 (+$29,098.00)
Section 5. 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.