Explanation
1. BACKGROUND
This ordinance authorizes amendments to the Department of Public Service’s 2023 Capital Improvement Budget (CIB) and transfers cash and appropriation to restore budget authority and cash previously moved due to the need to fund projects before the 2022 bond sale proceeds were received.
2. FISCAL IMPACT
There are no new expenditures associated with this legislation. It is necessary to amend the 2023 Capital Improvements Budget and transfer cash and appropriation within the Streets and Highways Bond Fund, Fund 7704, to restore budget authority and cash previously moved due to the need to fund projects before the 2022 bond sale proceeds were received.
3. EMERGENCY DESIGNATION
This ordinance is submitted as an emergency to allow the amendments to be posted in the City's 2023 Capital Improvements Budget and cash to be moved as soon as possible, allowing an accurate accounting of budget authority and cash.
Title
To amend the 2023 Capital Improvement Budget; to authorize the transfer of cash and appropriation within the Streets and Highways Bond Fund to restore cash moved to fund projects before the 2022 bond sale proceeds were received; and to declare an emergency. ($0.00)
Body
WHEREAS, it is necessary to make adjustments to the 2023 Capital Improvements Budget to reflect needed amendments; and
WHEREAS, it is necessary to transfer cash and appropriation between projects within the Streets and Highways Bond Fund to restore budget authority and cash previously moved due to the need to fund projects before the 2022 bond sale proceeds were received; and
WHEREAS, an emergency exists in the usual operation of the Department of Public Service in that it is immediately necessary to make said amendments and transfers to allow accurate accounting of the budget authority and cash, thereby preserving the public health, peace, property, safety and welfare; NOW, THEREFORE,
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS:
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