Explanation
BACKGROUND:
This ordinance reduces appropriations equal to $800,000.00 within the Department of Technology (DoT), Director's Office direct charge budget for the Department of Public Utilities, Division of Water. A surplus greater than $800,000.00 in the division's direct charge supplies, services and capital outlay budget was identified in the 2010 3rd quarter review. The Division of Water needs to unencumber these funds to have sufficient cash to meet their service category needs for the balance of 2010.
This ordinance is submitted as an emergency measure to allow 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 appropriation reduction of $800,000.00 will be made in the Division of Water's direct charge budget within the Department of Technology, Director's Office internal service fund to permit savings in internal services billings so that funds will be available for other critical expenditures with the Division of Water services budget. Savings in this area were identified in and are consistent with the 2010 3rd quarter financial review.
Title
To authorize and direct the City Auditor to decrease appropriations by $800,000.00 within the Department of Technology, internal services fund for fiscal year 2010; and to declare an emergency. ($800,000.00)
Body
WHEREAS: the 3rd quarter financial review identified surpluses in the Department of Technology direct charge budget in the Department of Public Utilities, Division of Water greater than $800,000.00, and
WHEREAS: an $800,000.00 appropriation reduction within the Department of Technology internal service fund is necessary to permit these savings to become available to the Division of Water for other important services needs; and
WHEREAS: an encumbrance originally established for Department of Technology internal bi...
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