Explanation
1. BACKGROUND:
This legislation requests authority for the City Auditor to transfer funds within the Storm Sewer Bond Fund and the Voted Sanitary Bond Fund for purposes of reallocating funds to two sanitary projects and one stormwater project that currently have cash funding balancing needs.
The two sanitary projects are the Jackson Pike Wastewater Treatment Plant New Headworks Project and the Southerly Wastewater Treatment Plant New Headworks Project. The stormwater project is the Woodland & Fifth Avenue Area Project.
2. FISCAL IMPACT:
The project accounts for which funds are being transferred currently have residual funds that are not currently required. These projects will not be adversely affected by this fund transfer ordinance.
3. EMERGENCY DESIGNATION:
The Division of Sewerage and Drainage is requesting that City Council consider this legislation an emergency measure in order to allow the financial transaction to be posted in the City's accounting system as soon as possible. Up to date financial posting promotes accurate accounting and financial management.
Title
To authorize the City Auditor to transfer $128,422.90 within the Storm Sewer Bond Fund, and $464,636.65 within the Voted Sanitary Bond Fund for purposes of reallocating specific account balances as required for the Division of Sewerage and Drainage; to amend the 2005 Capital Improvements Budget; and to declare an emergency. ($593,059.55)
Body
WHEREAS, the Division of Sewerage and Drainage of the Department of Public Utilities has an identifed funding need within three capital improvements projects within the Storm Sewer Bond Fund and the Voted Sanitary Bond Fund; and
WHEREAS, an emergency exists in the usual daily operation of the Division of Sewerage and Drainage, Department of Public Utilities in that the City Auditor and the Department of Finance and Management have determined it it necessary for this City Council to authorize the transfer of available project funds within the Storm Sewer Bond Fund and the Voted Sanitary Bond Fund for purposes of providing current cash requirements for two sanitary sewer improvement projects and one stormwater improvements project so as to ensure good cash management practices for said funds, for the preservation of the public health, peace, property and 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 and directed to transfer a total of $464,636.65 from within the Voted Sanitary Bond Fund No. 664, Department 60-05, as follows:
From:
Proj.: 650670| Beechwold/Foster Area Imp. - $464,636.65
To:
Proj.: 650252| Jackson Pike WWTP - $184,183.80
Proj.: 650352| Southerly WWTP - $280,452.85
Section 2. That the City Auditor be and hereby is authorized and directed to transfer a total of $128,422.90 from within the Storm Sewer Bond Fund No. 685, Department 60-05, as follows:
From:
Proj.: 610782| Linworth Rd./Meeklyn Dr. Storm Sewer - $128,422.90
To:
Proj.: 610974| Woodland & Fifth Avenue Area - $128,422.90
Section 3. That the City Auditor is hereby authorized to transfer any unencumbered balance in the 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 2005 Capital Improvements Budget Ordinance No. 1070-2005 is hereby amended as follows, in order to provide sufficient budget authority for the aforementioned fund transfer referenced in the preamble hereto.
CURRENT:
650670-Beechwold/Foster Area Imps. - $958,000.00 (Fund 664-2005 Bond Sale)
650252-Jackson Pike WWTP Headworks - $0.00 (Fund 664-2005 Bond Sale)
650352-Southerly WWTP Headworks - $0.00 (Fund 664-2005 Bond Sale)
650491-Big Walnut Aug./Rickenbacker - $0.00 (Fund 664-2005 Bond Sale)
610782-Linworth/Meeklyn Dr. Storm Sewer - $200,000.00 (Fund 685-2005 Bond Sale)
610974-Woodland & Fifth Ave. Area - $0.00 (Fund 685-2005 Bond Sale)
AMENDED TO:
650670-Beechwold/Foster Area Imps. - $493,363.35 (Fund 664-2005 Bond Sale)
650252-Jackson Pike WWTP Headworks - $184,183.30 (Fund 664-2005 Bond Sale)
650352-Southerly WWTP Headworks - $280,452.85 (Fund 664-2005 Bond Sale)
650491-Big Walnut Aug./Rickenbacker - $0.00 (Fund 664-2005 Bond Sale)
610782-Linworth/Meeklyn Dr. Storm Sewer - $71,577.10 (Fund 685-2005 Bond Sale)
610974-Woodland & Fifth Ave. Area - $128,422.90 (Fund 685-2005 Bond Sale)
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 day's after passage fi the Mayor neither approves nor vetoes the same.