Explanation
BACKGROUND:-
This legislation will authorize the transfer and appropriation of $459,505.00 from the General Fund to the Recreation and Parks Operating Fund to have monies in the proper account to meet payroll expenses through the end of 2003
As a result of the Third Quarter Review, this transfer is necessary to meet the payroll expenses. Funding is available from reimbursable expenses such as Workers Compensation costs, terminal leave pay and a claim.
This ordinance is submitted as an emergency 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. Additionally, emergency legislation will allow funding to be available for necessary payroll expenses.
FISCAL IMPACT:-
$459,505.00 is being transferred and appropriated from the General Fund to the Recreation and Parks Operating Fund, as shown in Section 1 and 2 of this ordinance.
Title
To authorize and direct the transfer and appropriation $459,505.00 from the General Fund to the Recreation and Parks Operating Fund to meet payroll expenses through the end of 2003, and to declare an emergency. ($459,505.00)
Body
WHEREAS, funds from reimbursable expenses of general funds are being transferred to meet payroll expenses through the end of 2003; and
WHEREAS, an emergency exists in the usual daily operation of the City of Columbus in that it is immediately necessary to appropriate and transfer said funds for the preservation of public health, peace, property and safety; now, therefore
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS:
SECTION 1. That the amount of $459,505.00 is hereby transferred from the General Fund to the Recreation and Parks Operating Fund, as follows:
FROM:
Fund Type Fund Object Level 3 OCA Code Amount
General 010 5501 900050 $459,505.00
TO:
Fund Type Dept. No. Fund Object Level 3 OCA Code Amount
Operating 51-01 285 0886 901306 $459,505.00
SECTION 2. That $459,505.00 is hereby appropriated to the Recreation and Parks Operating Fund, as follows:
Fund Type Dept. No. Fund Object Level 3 OCA Code Amount
Operating 51-01 285 1101 510297 $459,505.00
SECTION 3. 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.