Explanation
BACKGROUND: This legislation authorizes the transfer funds from one project to another in fund 7739 to allow the City Auditor to change the funding source for an established ACPO.
Under Ordinance No. 2715-2019, ACPO006580-30 was established as a local match for a federal grant. The funding source for the local match was bond funds from fund 7782. For financial management reasons, the department wishes to change the funding source of the funds remaining on line 30 of ACPO006580 from bond funds in fund 7782 to bond funds in fund 7739.
Emergency action is requested to close out old programs in an expeditious manner in the interest of timely and accurate accounting.
FISCAL IMPACT: This ordinance authorizes the transfer of cash and appropriation within the Development Taxable Bond fund. All expenditures had been previously authorized by Council under different funds.
Title
To amend the 2021 Capital Improvement Budget; to authorize the transfer of funds within the Development Taxable Bond fund; to authorize the expenditure of up to $720,249.72 from the Development Taxable Bond fund; to authorize the City Auditor to cancel ACPO006580 and reestablish the remaining balance on a new ACPO; and to declare an emergency. ($720,249.52)
Body
WHEREAS, for financial management reasons, the department wishes to change the funding source for line 30 on ACPO006580; and
WHEREAS, in order to accomplish this, funds must be transferred from one project to another in fund 7739; and
WHEREAS, once the funds are transferred the City Auditor will cancel the existing ACPO and create a new ACPO with the new funding source for line 30 and existing funding sources for the remaining lines; and
WHEREAS, an emergency exists in the usual daily operation of the Department of Development in that it is immediately necessary to close out old programs in an expeditious manner in the interest of timely and accurate accounting, all for the preservation of the public health, peace, property, safety and welfare; and NOW THEREFORE,
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS:
SECTION 1. That the 2021Capital Improvements Budget authorized by ordinance 2707-2021 be amended as follows to establish sufficient authority for this project.
Fund / Project / Project Name / Current / Change / CIB as Amended
7739 / P782011-100000 / Lead Hazard Reduction Demonstration 2019 Grant Match / $0.00 / $720,249.52 / $720,249.52
7739 / P782001-100000 / Housing Preservation / $924,787 / ($617,746.74) / $307,040.26
7739 / P782003-100000 / Housing Preservation - Emergency Shelter Repair / $106,289.00 / ($102,502.78) / $3,786.22
7739 / P440104-100104 / Gravity 2.0 Garage Contribution (Councilmanic SIT Supported) / $500,000.00 / ($500,000.00) / $0.00
7704 / P530303-100000 / Housing Initiatives - Roadways (Voted 2019 SIT Supported) / $500,000.00 / ($500,000.00) / $0.00
7704 / P530058-100005 / NCR - Public Infrastructure (Voted 2019 SIT Supported) / $1,353,086.00 / ($797,400.00) / $555,686.00
7739 / P440105-100001 / Misc Econ Dev - Confluence Village Garage (Councilmanic SIT Supported) / $0.00 / $500,000.00 / $500,000.00
7704 / P440105-100001 / Misc Econ Dev - Confluence Village Garage (Voted 2019 SIT Supported) / $0.00 / $1,297,400.00 / $1,297,400.00
SECTION 2. That the transfer of $720,249.52 or so much thereof as may be needed, is hereby authorized within Fund 7739 (Development Taxable Bond fund); from Dept-Div 4410 (Housing) Projects P782001-100000 (Housing Preservation) and P782003-100000 (Housing Preservation - Emergency Shelter Repair); object class 06 (Capital Outlay) to Dept-Div 4410 (Housing), Project P782011-100000 (Lead Hazard Reduction Demonstration 2019 Grant Match), object class 05 (Other Expenses) per the account codes in the attachment to this ordinance.
SECION 3. That the City Auditor is hereby authorized to re-establish project balances, appropriation and encumbrance balances in eligible funds.
SECTION 4. 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 5. Funds are hereby deemed appropriated and expenditures and transfers authorized to carry out the purposes of this ordinance and the City Auditor shall establish such accounting codes as necessary.
SECTION 6. 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 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 passage and approval by the Mayor, or ten days after passage if the Mayor neither approves nor vetoes the same.