Explanation
1. BACKGROUND
This ordinance authorizes the Director of Finance and Management to amend the 2024 Capital Improvement Budget of the Department of Recreation and Parks for transfers that occurred during the transition from the 2023 Capital Improvement Budget to the 2024 Capital Improvement Budget. This ordinance also authorizes budget amendments and transfers of cash and appropriation to consolidate small balances existing within capital funds of the Department of Recreation and Parks.
2. FISCAL IMPACT
This ordinance does not authorize an expenditure. Budget amendments will be made to reflect cancellations and deposits processed and ordinances approved by Council for the Department of Recreation and Parks during the transition from the 2023 Capital Improvement Budget to the 2024 Capital Improvement Budget. Budget amendments and transfers of cash and appropriation will also be made to consolidate small balances existing within capital funds of the Department of Recreation and Parks.
Title
To authorize the Director of the Department of Finance and Management to amend the 2024 Capital Improvement Budget to reflect budget transactions that occurred during the transition from the 2023 Capital Improvement Budget to the 2024 Capital Improvement Budget as well as to consolidate small balances within capital funds; and to authorize the transfer of cash and appropriation within the Recreation and Parks G.O. Bond Fund, Fund 7702, and the Recreation and Parks Taxable Bond Fund, Fund 7712. ($0.00)
Body
WHEREAS, the 2024 Capital Improvement Budget was recently adopted by Columbus City Council; and
WHEREAS, the Department of Recreation and Parks submitted ordinances for passage by City Council, processed cancellations, and received deposits during the transition period from the 2023 Capital Improvement Budget to the 2024 Capital Improvement Budget which require capital budget amendments; and
WHEREAS, the Department of Recreation and Parks desires to consolidate certain small balances that currently exist within the Recreation and Parks G.O. Bond Fund, Fund 7702, and the Recreation and Parks Taxable Bond Fund, Fund 7712; and
WHEREAS, it is necessary to amend the 2024 Capital Improvement Budget to reflect needed and desired amendments; and
WHEREAS, it is necessary to transfer cash and appropriation between projects within the Recreation and Parks G.O. Bond Fund, Fund 7702, and the Recreation and Parks Taxable Bond Fund, Fund 7712, to consolidate small unencumbered cash balances that exist in certain projects within such funds; NOW, THEREFORE,
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS:
SECTION 1. That the 2024 Capital Improvement Budget authorized by Ordinance 1907-2024 be amended per the accounting template attached to this ordinance to reflect budget amendments, cancellations, and deposits for the Department of Recreation and Parks that occurred during the transition period from the 2023 Capital Improvement Budget to the 2024 Capital Improvement Budget and to reflect consolidation of small balances within the Recreation and Parks G.O. Bond Fund, Fund 7702, and the Recreation and Parks Taxable Bond Fund, Fund 7712.
SECTION 2. That the Director of Finance and Management or designee is authorized to make any amendments to the 2024 Capital Improvement Budget of the Department of Recreation and Parks within each project category as deemed necessary.
SECTION 3. That the transfer of $149,749.74, or so much thereof as may be needed, is hereby authorized within the Recreation and Parks G.O. Bond Fund, Fund 7702, and the Recreation and Parks Taxable Bond Fund, Fund 7712, per the account codes in the attachment to this ordinance.
SECTION 4. That this ordinance shall take effect and be in force from and after the earliest period allowed by law.