Explanation
BACKGROUND AND FISCAL IMPACT:
This ordinance decreases general fund appropriations for fiscal year 2003 by $5,600,000 to take into account the City Auditor's reduction of the estimate of available resources into the general fund of $5,600,000. This ordinance reduces appropriations within general fund divisions as follows: reducing the amount required for workers compensation premiums due to various discounts and credits ($1,044,000), shifting the debt service payment into the Police and Fire Pension liability fund from the general fund to the special income tax fund ($2,002,287.50), shifting certain general fund expenditures to the SCMR fund ($674,406.50) and the Development Services Fund ($226,126) retroactively to January 1, 2003, savings associated with hiring controls including not filling vacant positions ($526,819), reducing the general fund subsidy to the Health Department primarily to account for vacant positions that will not be filled ($500,000), reducing the year-end balance largely resulting from vacant positions in various agencies ($350,000), and miscellaneous supply, services and equipment reductions ($276,361).
To accommodate the shift of the Police and Fire Pension liability fund payment, the appropriation within the Special Income Tax fund is increased by $2,022,287.50 as a part of this ordinance.
Title
To decrease appropriations in the General Fund of the City of Columbus for fiscal year 2003 by $5,600,000, to authorize and direct the correction of debt service payments for the police and fire pension liability fund from the general fund to the special income tax fund, to increase the appropriation within the special income tax fund by $2,002,287.50, and to declare an emergency ($5,600,000).
Body
WHEREAS, the City faces continuing challenges in the general fund's financial position; and
WHEREAS, the City Auditor has reduced the estimate of available resources into the general fund by an additional
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