Explanation
This legislation authorizes the City Auditor to appropriate and transfer $581,081.44 from the Storm Sewer Operating Fund to the Storm Sewer Bonds fund and appropriate said funds to the Bliss Run Trunk Sewer Improvements Project for Phase 3 expenses. This will allow sufficient funds to be available to modify the engineering agreement with Camp Dresser & McKee. An additional $140,860.56 is being transferred within the Storm Sewer Bonds Fund to support the entire amount of $721,942.00 needed for this modification.
Emergency Designation: This ordinance is submitted as an emergency so as 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.
Fiscal Impact: The project for which this legislation requests fund transfer currently have insufficient balances to allow for the aforementioned expenditures. This transfer does not reflect any changes to the projects planned in the 2002 Capital Improvements Budget (CIB). The change is a temporary measure for the project that is being designed or constructed to maintain efficient cash flow within the Stormwater CIB. Funds will be made available for all approved projects as needed.
Title
To authorize the City Auditor to appropriate and transfer $581,081.44 from the Storm Sewer Operating Fund to the Storm Sewer Bonds Fund; to appropriate said funds within the Storm Sewer Bonds Fund for the Bliss Run Trunk Sewer Improvement Project; and to declare an emergency. ($581,081.44)
Body
WHEREAS, it is immediately necessary to both appropriate funds from the Storm Sewer Operating Fund and to transfer said funds into the Storm Sewer Bonds Fund, in order to temporary fund the Bliss Run Trunk Sewer Improvements Project, Phase 3, until such time as the City issues a bond sale; and
WHEREAS, it is immediately necessary to appropriate said funds within the Storm Sewer Bonds Funds for the Bliss Run Trunk Sewer Improvements Project; and
WHEREAS, an emergency exists in the usual daily operation of the Division of Sewerage and Drainage, Department of Public Utilities, in that it immediately necessary to transfer funds to execute the aforementioned capital project related transactions, 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 from the unappropriated monies in the Storm Sewer Operating Fund, Fund No. 675, and from all monies estimated to come into said fund from any and all sources, and unappropriated for any other purpose during the fiscal year ending December 31, 2003, the sum of $581,081.44 is hereby appropriated to the Division of Sewerage and Drainage, Division 60-15, Object Level One-10, Object Level Three-5502.
Section 2. That the City Auditor is hereby authorized to transfer $581,081.44 to the Storm Sewer Bonds Fund, Fund No. 685 into the appropriate project account as specified within Section 6 herein, at such time as deemed necessary by him, and to expend said funds, or so much thereof as may be necessary.
Section 3. That the $581,081.44 is hereby appropriated for the Bliss Run Trunk Sewer Improvements Project within Fund 685, Division No. 60-15, Project 610923; OCA 685923.
Section 4. That upon obtaining other funds for the purpose of funding storm sewer system capital improvement work, the City Auditor is hereby authorized to repay the Storm Sewer Operating Fund the amount transferred under Section 5 above, and said funds are hereby deemed appropriated for such purpose.
Section 5. That the City Auditor is authorized to make any accounting changes to revise the funding source for any contract or contract modifications associated with the expenditure of the funds transferred under Section 5 above.
Section 6. That for the reasons stated in the preamble hereto, which is hereby made a part hereof, this ordinance is hereby declared an emergency measure and shall 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.