Explanation
Generally Accepted Accounting Principles (GAAP) require the capitalization of costs associated with the acquisition or construction of property. The cost of a capital asset should include all charges necessary to place the asset into its intended location and conditional use, which includes internal labor. City of Columbus direct labor costs for employees who are working in the capacity of project manager or construction are eligible to be capitalized to an identified capital project.
This ordinance authorizes the establishment of an auditor’s certificate in the amount of $1,000,000.00 for the reimbursement of staff time related to the administration of Recreation and Parks 2023-2024 Capital Improvement Projects. $1,000,000.00 will be established for 2023-2024 staff time reimbursements in accordance with the City Auditor’s internal labor capitalization policy. Reimbursements will be done via expenditure correction.
Emergency Justification: Emergency action is requested to ensure that the auditor’s certificate is available before year end for the remainder of 2024 staff time expenditure corrections.
Fiscal Impact: $1,000,000.00 is budgeted and available from within the Recreation and Parks Voted Bond Fund 7702 for this purpose.
Title
To authorize and direct the City Auditor to establish an auditor’s certificate in the amount of $1,000,000.00 for the reimbursement of staff time related to the administration of Recreation and Parks 2023-2024 Capital Improvement Projects; to authorize the transfer of $50,000.00 within the Recreation and Parks Voted Bond Fund; to authorize the amendment of the 2024 Capital Improvements Budget; to authorize the expenditure of $1,000,000.00 from the Recreation and Parks Voted Bond Fund; and to declare an emergency. ($1,000,000.00)
Body
WHEREAS, it is necessary that the City Auditor to establish an auditor’s certificate in the amount of $1,000,000.00 for the reimbursement of staff time related to the administration of Recreation and Parks 2023-2024 Capital Improvement Projects; and
WHEREAS, funding is available for these reimbursements from and within the Recreation and Parks Voted Bond Fund; and
WHEREAS, it is necessary to authorize the transfer of $50,000.00 within the Recreation and Parks Voted Bond Fund 7702; and
WHEREAS, it is necessary to authorize the amendment of the 2024 Capital Improvements Budget Ordinance 1907-2024 in order to provide sufficient budget authority for this and future projects; and
WHEREAS, an emergency exists in the usual daily operations of the Recreation and Parks Department in that it is immediately necessary to establish this auditor’s certificate to ensure that it is available before year end for the remainder of 2024 staff time expenditure corrections, all for the immediate 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 authorized to establish an auditor’s certificate in the amount of $1,000,000.00 for the reimbursement of staff time related to the administration of Recreation and Parks 2023-2024 Capital Improvement Projects.
SECTION 2. That the City Auditor is authorized to make any accounting changes to revise the funding source for all contracts or contract modifications associated with this ordinance.
SECTION 3. That the City Auditor is hereby authorized to transfer the unencumbered balance in a project account to the unallocated balance account 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 are no longer required for said project.
SECTION 4. That the funds necessary to carry out the purpose of this ordinance are hereby deemed appropriated, and the City Auditor shall establish such accounting codes as necessary.
SECTION 5. That the transfer of $50,000.00, or so much thereof as may be needed, is hereby authorized between projects within the Recreation and Parks Bond Fund 7702 per the account codes in the attachment to this ordinance.
SECTION 6. That the 2024 Capital Improvements Budget Ordinance 1907-2024 is hereby amended as follows in order to provide sufficient budget authority for this ordinance and future projects.
Fund / Project / Project Name / Current Revised Authority / Current Remaining Authority / Change / Amended Revised Authority / Amended Remaining Authority
Fund 7702 / P511065-100000 / Lighting Improvements 2023-2024 (Voted Carryover) / $1,692,534 / $1,617,867 / ($50,000) / $1,642,534 / $1,567,867
Fund 7702 / P516001-100000 / Emergency Replacement - Cost Allocation (Voted Carryover) / $0 / $0 / $40,000 / $40,000 / $40,000
Fund 7702 / P517001-100000 / Opportunity Projects - Cost Allocation (Voted Carryover) / $20,000 / $20,000 / $10,000 / $30,000 / $30,000
SECTION 7. For the purpose stated in Section 1, the expenditure of $1,000,000.00 or so much thereof as may be necessary to pay the cost thereof, be and is hereby authorized from the Recreation and Parks Voted Bond Fund 7702 in object class 06 Capital Outlay per the accounting codes in the attachment.
SECTION 8. That this ordinance, for the reasons stated in the preamble, which are made a part of this ordinance and fully incorporated for reference as if rewritten, is declared to be an emergency measure and shall take effect and be in force from and after this ordinance’s passage and approval by the Mayor or ten (10) days after its adoption if the Mayor neither approves nor vetoes this ordinance.