City of Columbus - File #: 1414-2023

• File #: 1414-2023
• Version: 1
• Type: Ordinance
• Status: Passed
• File created: 5/5/2023
• In control: Recreation & Parks Committee
• On agenda: 6/12/2023
• Final action: 6/14/2023
• Title: To authorize and direct the City Auditor to establish an auditor’s certificate in the amount of $1,000,000.00 for the reimbursement of staff time related to the administration of Recreation and Parks 2022-2023 Capital Improvement Projects; and to authorize the expenditure of $1,000,000.00 from the Recreation and Parks Voted Bond Fund. ($1,000,000.00)

Date	Ver.	Action By	Action	Result
6/14/2023	1	CITY CLERK	Attest
6/13/2023	1	MAYOR	Signed
6/12/2023	1	COUNCIL PRESIDENT	Signed
6/12/2023	1	Columbus City Council	Approved	Pass
6/5/2023	1	Columbus City Council	Read for the First Time

Explanation

Generally Accepted Accounting Principles (GAAP) require the capitalization of costs associated with the acquisition or construction of property. The cost of a capital asset should include all charges necessary to place the asset into its intended location and conditional use, which includes internal labor. City of Columbus direct labor costs for employees who are working in the capacity of project manager or construction are eligible to be capitalized to an identified capital project.
This ordinance authorizes the establishment of an auditor’s certificate in the amount of $1,000,000.00 for the reimbursement of staff time related to the administration of Recreation and Parks 2022-2023 Capital Improvement Projects. $1,000,000.00 will be established for 2022-2023 staff time billings in accordance with the City Auditor’s internal labor capitalization policy.
Fiscal Impact: $1,000,000.00 is budgeted and available from within the Recreation and Parks Voted Bond Fund 7702 for this purpose.

Title

To authorize and direct the City Auditor to establish an auditor’s certificate in the amount of $1,000,000.00 for the reimbursement of staff time related to the administration of Recreation and Parks 2022-2023 Capital Improvement Projects; and to authorize the expenditure of $1,000,000.00 from the Recreation and Parks Voted Bond Fund. ($1,000,000.00)

Body

WHEREAS, it is necessary that the City Auditor establish an auditor’s certificate in the amount of $1,000,000.00 for the reimbursement of staff time related to the administration of Recreation and Parks 2022-2023 Capital Improvement Projects; and

WHEREAS, funding is available for these reimbursements from and within the Recreation and Parks Voted Bond Fund; and

WHEREAS, it has become necessary in the usual daily operations of the Recreation and Parks Department in that it is necessary to authorize the expenditure of $1,000,000.00 from the Recreation and Parks Voted Bond Fund, all for the preservation of th...