Explanation
BACKGROUND:
This ordinance reduces appropriations within the operating fund for the Department of Technology (DoT) as a result of savings identified in the supply and services categories as a result of the 2004 third quarter review. In order to proceed with the Finance Department's third quarter transfer legislation, it is necessary to reduce DoT appropriations so that surpluses contingent on savings in DoT billings, identified in the quarterly review, can be distributed. In addition, this ordinance provides for transfers within DoT appropriations in order to properly align object appropriations with the projected expenditures, allowing the department to operate without interruption through the end of 2004.
This ordinance is submitted as an emergency to allow for 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.
FISCAL IMPACT:
An appropriations reduction of $476,000 will be made in the Department of Technology, Information Services Division internal service fund to permit savings in internal service billings to be made available in the citywide transfer. Funding for both the appropriation reduction and the transfer are available and are consistent with the 2004 third quarter review.
Title
To authorize and direct the City Auditor to decrease appropriations by $476,000 within the Department of Technology, information services internal service fund for fiscal year 2004; to authorize the transfer of $487,000 within the Department of Technology internal service fund appropriations; and to declare an emergency. ($963,000.00)
Body
WHEREAS, the third quarter 2004 financial review identified deficits and surpluses within the Department of Technology that will, in the aggregate, result in reduced internal service billings to customer agencies throughout the city; and
WHEREAS, a reduction in appropri...
Click here for full text