Explanation
BACKGROUND: This legislation authorizes the appropriation and transfer of $39,000 from the Capital South Debt Service Fund to the HOME Fund and authorizes the appropriation and expenditure of $39,000 from the HOME Fund. These funds will be used by the Department of Development to reimburse the HOME Investment Partnerships Fund for an activity that was deemed to be an ineligible expense.
This legislation is presented as an emergency measure to facilitate the repayment in a timely manner.
FISCAL IMPACT: This ordinance appropriates and transfers $39,000 from the Capital South Debt Service Fund to the HOME Fund and appropriates and expends $39,000 from the HOME Fund.
Title
To authorize the City Auditor to appropriate $39,000 within the Capital South Debt Service Fund; to transfer $39,000 from the Capital South Debt Service Fund to the HOME Fund; to authorize the appropriation and expenditure of $39,000 from the HOME Fund; and to declare an emergency ($39,000)
Body
WHEREAS, it is the desire of the Director of the Department of Development to appropriate funds from the unappropriated balance of the Capital South Fund; and
WHEREAS, these Capital South Funds will be transferred to the HOME Fund to reimburse the HOME Investment Partnerships Fund;
WHEREAS, it is necessary to appropriate and expend funds from the 2006 HOME Fund; and
WHEREAS, the transfer into the HOME Fund will enable these dollars to be used for housing activities designed to increase and preserve the local supply of decent, safe, sanitary and affordable housing for low-income families; and
WHEREAS, an emergency exists in the usual daily operation of the Department of Development, in that it is immediately necessary to appropriate and transfer said funds for the preservation of public health, peace, property, safety and welfare; now, therefore:
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS:
Section 1. That from the unappropriated monies in the Capital South Debt Service Fund (481), and from all monies estimated to come into said funds from any and all sources, and unappropriated for any other purposes during the fiscal year ending December 31, 2006, the sum of $39,000 is appropriated as follows:
Division |
Fund |
Subfund |
OL1 |
OL3 |
OCA |
Amount |
44-01 |
481 |
000 |
10 |
5501 |
904904 |
$39,000 |
Section 2. That the City Auditor is hereby authorized to transfer said funds from Section 1 above to the unappropriated balance of the HOME Fund, Fund 201, as follows:
Division |
Fund |
Subfund |
OL1 |
OL3 |
OCA |
Amount |
44-10 |
201 |
000 |
05 |
5528 |
443134 |
$4,000 |
44-10 |
201 |
000 |
05 |
5528 |
458221 |
$35,000 |
Total |
|
|
|
|
|
$39,000 |
Section 3. That from the unappropriated monies in the HOME Fund, Fund 201, and from all monies estimated to come into said funds from any and all sources, and unappropriated for any other purposes during the fiscal year ending December 31, 2006, the sum of $39,000 is appropriated as follows:
Division |
Fund |
Subfund |
OL1 |
OL3 |
OCA |
Amount |
44-10 |
201 |
000 |
05 |
5528 |
443134 |
$4,000 |
44-10 |
201 |
000 |
05 |
5528 |
458221 |
$35,000 |
Total |
|
|
|
|
|
$39,000 |
Section 4. That the expenditure of $39,000 from the HOME Fund, Fund 201, is hereby authorized as follows:
Division |
Fund |
Subfund |
OL1 |
OL3 |
OCA |
Amount |
44-10 |
201 |
000 |
05 |
5528 |
443134 |
$4,000 |
44-10 |
201 |
000 |
05 |
5528 |
458221 |
$35,000 |
Total |
|
|
|
|
|
$39,000 |
Section 5. That for the reasons stated in the preamble hereto, which is hereby made a part hereof, this ordinance is 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.