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 a budget reservation in the amount of $928,000 for the reimbursement of staff time related to the administration of Recreation and Parks 2017/2018 Capital Improvement Projects. $928,000.00 will be established for 2017/2018 staff time billings in accordance with the City Auditor’s internal labor capitalization policy.
Emergency Justification: Emergency action is requested to ensure that the budget reservation is available for 2017 4th quarter staff time billing.
Fiscal Impact: $928,000.00 is budgeted and available in the Recreation and Parks Voted Bond Fund 7702 for this purpose.
Title
To establish a budget reservation in the amount of $928,000.00; to amend the 2017 Capital Improvements Budget; to authorize the transfer between projects within the Recreation and Parks Voted Bond Fund; to authorize the expenditure of $928,000.00 from the Voted Recreation and Parks Bond Fund for the reimbursement of staff time related to the administration of Recreation and Parks 2017/2018 Capital Improvement Projects; and to declare an emergency. ($928,000.00)
Body
WHEREAS, staff time reimbursements related to the administration of Capital Improvement Projects are necessary; and
WHEREAS, funding is available for these reimbursements from unallocated balances within the Voted Recreation and Parks Bond Fund; and
WHEREAS, to amend the 2017 Capital Improvements Budget; and
WHEREAS, to authorize the transfer between projects within the Recreation and Parks Voted Bond Fund; and
WHEREAS, an emergency exists in the usual daily operation of the Recreation and Parks Department in that it is immediately necessary to establish a budget reservation so that it is available for 2017 4th quarter staff time billing; and NOW, THEREFORE
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS:
SECTION 1. That the reimbursement of staff time related to the administration of Capital Improvement Projects and the establishment of a budget reservation in the amount of $928,000 for such reimbursement is hereby authorized.
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 transfer of $252,575.00 or so much thereof as may be needed, is hereby authorized between projects within the Recreation and Parks Voted Bond Fund 7702 per the account codes in the attachments to this ordinance.
SECTION 5. That the 2017 Capital Improvements Budget Ordinance 1124-2017 is hereby amended as follows in order to provide sufficient budget authority for this legislation and future projects. The amendments within this ordinance are contingent on Ordinance No. 2949-2017.
Fund / Project / Project Name / Current / Change / Amended
Fund 7702 / P440006-100004; UIRF - Cost Allocation (Voted Carryover); $20,000 / $17,546 / $37,546 (to match cash)
Fund 7702 / P510011-100023; Swimming Facility Improvements - Cost Allocation (Voted Carryover); $0 / $15,159 / $15,159 (to match cash)
Fund 7702 / P510017-100041; Park Improvements - Cost Allocation (Voted Carryover); $0 / $171,805 / $171,805 (to match cash)
Fund 7702 / P510035-100013; Facility Renovation - Cost Allocation (Voted Carryover); $0 / $18,610 / $18,610 (to match cash)
Fund 7702 / P510112-100001; Land Acquisition - Cost Allocation (Voted Carryover); $0 / $5,983 / $5,983 (to match cash)
Fund 7702 / P510316-100040; Greenways - Cost Allocation (Voted Carryover); $0 / $6,490 / $6,490 (to match cash)
Fund 7702 / P510429-100031; Golf - Cost Allocation (Voted Carryover); $0 / $12,499 / $12,499 (to match cash)
Fund 7702 / P440006-100004; UIRF - Cost Allocation (Voted Carryover); $37,546 / ($17,546) / $20,000
Fund 7702 / P510011-100023; Swimming Facility Improvements - Cost Allocation (Voted Carryover); $15,159 / ($7,159) / $8,000
Fund 7702 / P510017-100041; Park Improvements - Cost Allocation (SIT Supported); $330,000 / ($171,805) / $158,195
Fund 7702 / P510035-100013; Facility Renovation - Cost Allocation (SIT Supported); $310,000 / ($18,610) / $291,390
Fund 7702 / P510112-100000; Park Acquisition (SIT Supported); $220,440 / ($37,456) / $182,984
Fund 7702 / P440006-100000; UIRF Misc. (Voted Carryover); $192,386 / $17,546 / $209,932
Fund 7702 / P510429-100031; Golf - Cost Allocation (Voted Carryover); $12,499 / $7,159 / $19,658
Fund 7702 / P510112-100001; Land Acquisition - Cost Allocation (SIT Supported); $0 / $14,018 / $14,018
Fund 7702 / P510316-100040; Greenways - Cost Allocation (SIT Supported); $0 / $193,510 / $193,510
Fund 7702 / P510429-100031; Golf - Cost Allocation (SIT Supported); $0 / $20,343 / $20,343
SECTION 6. That, for the purpose stated in Section 1, the expenditure of $928,000.00 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 7. 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 10 days after passage if the Mayor neither approves nor vetoes the same.