Explanation
BACKGROUND AND FISCAL IMPACT:
As part of the 2014 third quarter financial review, the Department of Finance and Management identified surpluses and deficits in various objects in several divisions. In order to properly align appropriations with projected expenditures and allow divisions to operate without interruption through the end of 2014, it is necessary to transfer $1,146,242 among divisions within the general fund.
Object level one surpluses and deficits were projected as part of the third quarter financial review. This ordinance makes transfers to reflect these projections. The amounts do not mirror the third quarter review exactly, due to transfers that have occurred in the interim as well as adjustments made in projections since the release of the review.
This ordinance also authorizes appropriation transfers for certain non-general fund departments and divisions in order to provide appropriations in the necessary objects for the remainder of the fiscal year. Finally, this ordinance also authorizes an appropriation in the Municipal Court Computer Fund. A sufficient cash balance exists to allow for this appropriation.
EMERGENCY DESIGNATION
This ordinance is submitted as an emergency so as to allow these 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.
Title
To authorize and direct the City Auditor to provide for the transfer of $1,146,242.00 within the general fund; to transfer appropriations between objects in, and to appropriate additional funds for, certain non-general fund departments and divisions; and to declare an emergency ($1,146,242.00).
Body
WHEREAS, the third quarter financial review, conducted by the Department of Finance and Management, identified surpluses and deficits in the various objects of several general fund divisions; and
WHEREAS, it is necessary to transfer funds between objects and divisions and to increase an appropriation in order to allow divisions to continue to operate through the end of 2014; and
WHEREAS, 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, promoting accurate accounting and financial management.
WHEREAS, an emergency exists in the usual daily operation of the City of Columbus in that it is immediately necessary transfer funds for the immediate preservation of the public, health, peace, property, safety and welfare; 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 transfer $1,146,242 between various divisions and objects within the general fund, fund 010, as follows:
Attachment: 2014 3rd Quarter trx.xlsx
SECTION 2. That the City Auditor is hereby authorized and directed to transfer appropriations in the amount of $25,980 within the recreation and parks operating fund, fund 285, from Division 51-01, OCA 510297, OL1: 01, to Division 51-01, OCA 510297, OL1: 03.
SECTION 3. That the City Auditor is hereby authorized and directed to transfer $17,282 within the information services fund, fund 514, from subfund 010, Division 47-01, OCA 450147, OL1: 01, to subfund 010, Division 47-01, OCA 450147
OL1: 05 $17,109
OL1: 07 $173
SECTION 4. That the City Auditor is hereby authorized to transfer appropriations in the amount of $311,610 within the street construction maintenance and repair fund, fund 265, as follows:
From:
Division 59-11, OCA 591111, OL1: 03, $307,222
Division 59-01, OCA 590145, OL1: 01, $4,388
To:
Division 59-11, OCA 591155, OL1: 01, $307,222
Division 59-01, OCA 590145, OL1: 03, $4,388
SECTION 5. That the City Auditor is hereby authorized and directed to appropriate $11,160 within the Municipal Court Computer Fund, fund 227, division 25-01, subfund 001, OCA 250340, OL1: 01.
SECTION 6. 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.