Explanation
Background
This ordinance re-allocates funding responsibilities for certain city services among various city departments with the ultimate goal of retaining the proceeds of the kilowatt-hour tax in the General Fund, thus increasing revenues needed to support current operations.
As part of this plan, the Stormwater Utility Fund will begin paying the cost of street cleaning beginning in 2004. Street cleaning is an appropriate function for the Stormwater division, since street cleaning efforts protect water quality, and minimize the burden on the sewer system from surface debris.
This plan also recognizes that the Transportation Division, which is responsible for the maintenance of the city's streets, has a shared responsibility along with the Division of Electricity, for lighting the city's streets. Beginning in 2004, the Transportation Division will begin paying a portion of the operating costs of the street lighting program.
Pursuant to Ordinance No. 0872-01, the City Auditor has been authorized to transfer 100 percent of the kilowatt-hour distribution tax imposed by Ohio Revised Code Section 5727.81(A) upon the Division of Electricity for the distribution of electricity to end users within the boundaries of the municipal corporation from the General Fund to the Electricity Operating Fund. The proceeds of this tax have supported operations of the Electricity Division, including the payment of debt service upon bonds issued for street lighting purposes.
The aforementioned re-allocation of funding responsibilities will allow the proceeds of the kilowatt-hour tax to be retained in the General Fund, increasing revenues needed to support current operations.
This ordinance is submitted as an emergency so as to allow the associated financial transactions 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
This ordinance increases appr...
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