Explanation
Background: This ordinance authorizes the Director of Public Utilities to transfer cash and amend the 2012 Capital Improvements Budget (CIB) for the Department of Public Utilities, Division of Power and Water and Division of Sewerage and Drainage (Stormwater). This will align the needed cash and authority for the Division of Water, the Division of Power and the Division of Sewerage and Drainage (Stormwater) projects scheduled in 2013.
Emergency action: This ordinance is submitted as an emergency so as to allow the financial transactions 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: This legislation includes a transfer of funds between the Water Works Enlargement Voted Bonds Fund, the Water Build America Bonds Fund, the Water Permanent Improvements Fund, the Electricity G.O. Bond Fund, Storm Build America Bonds Fund, the Storm Recovery Zone Build America Bonds Fund and the Storm Sewer Bond Fund. An amendment to the 2012 Capital Improvements Budget will also be necessary.
Title
To authorize the City Auditor to transfer funds within the Water Works Enlargement Voted Bonds Fund, the Water Build America Bonds Fund, the Water Permanent Improvements Fund, the Electricity G.O. Bond Fund Storm Build America Bonds Fund, the Storm Recovery Zone Build America Bonds Fund and the Storm Sewer Bond Fund, in order to align current cash and authority with the Department of Public Utilities, Division of Power and Water and Division of Sewerage and Drainage current and future needs; to amend the 2012 Capital Improvements Budget; and to declare an emergency. ($0.00)
Body
WHEREAS, it is necessary for this Council to authorize the City Auditor to transfer funds within the Department of Public Utilities, Division of Water's Water Works Enlargement Voted Bonds Fund, Water Build America Bonds Fund, Water Permanent Improvements Fund, the Electricity G.O. Bond Fund, the Storm Build America Bonds Fund, the Storm Recovery Zone Build America Bonds Fund and the Storm Sewer Bond Fund.
WHEREAS, it is necessary to authorize an amendment to the 2012 Capital Improvements Budget for purposes of providing sufficient funding and expenditure authority for current and future project expenditures; and
WHEREAS, an emergency exists in the usual daily operation of the Department of Public Utilities, in that it is immediately necessary to authorize the aforementioned transfers and amendments to align cash and authority with current and future project expenditures, in an emergency manner in order to allow the financial transactions to be posted in the City's accounting system, to promote accurate accounting and financial management; 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 hereby authorized and directed to appropriate the following:
A. Division: Power and Water
Dept./Div. No.: 60-09
Fund No.: 608
Fund Name: Water Permanent Improvements Fund
OL3: 6629
Fund No. | Project No. | Project Name | OCA | Amount
608 | 608999-100000 | Unallocated Balance Fund 608 | 608999 | $14,494.99
B. Division: Sewerage and Drainage
Dept./Div. No.: 60-15
Fund No.: 676
Fund Name: Storm Build America Bonds Fund
OL3: 6621
Fund No. | Project No. | Project Name | OCA | Amount
676 | 676999-100000 | Unallocated Balance Fund 676 | 676999 | $38,002.46
C. Division: Sewerage and Drainage
Dept./Div. No.: 60-15
Fund No.: 677
Fund Name: Storm Recovery Zone Build America Bonds Fund
OL3: 6621
Fund No. | Project No. | Project Name | OCA | Amount
677 | 677999-100000 | Unallocated Balance Fund 677 | 677999 | $128,688.14
SECTION 2. That the City Auditor is hereby authorized to transfer $2,345,875.84 within the Division Water, Dept/Div. No. 60-09, Object Level One 06, Object Level Three 6629; to transfer $1,808,068.36 within the Division of Power Dept/Div. No 60-07, Object Level Three 6625, as indicated on attachments "ORD 2780-2012 Water Transfers"and "ORD 2780-2012 Power Transfers" and to transfer $6,914,010.73 within the Division of Sewerage and Drainage, Dept/Div. No 60-15, Object Level Three 6621, as indicated on attachments "ORD 2780-2012 Water Transfers", "ORD 2780-2012 Power Transfers" and "ORD 2780-2012 Stormwater Transfers"
SECTION 3. That the 2012 CIB ordinance number 0368-2012, passed on April 16th, be amended as indicated on attachments "ORD 2780-2012 Water Authority", "ORD 2780-2012 Power Authority" and "ORD 2780-2012 Stormwater Authority"
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 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 6. That the City Auditor is authorized to establish proper project accounting numbers as appropriate.
SECTION 7. 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 8: 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.