Explanation
BACKGROUND AND FISCAL IMPACT:
As part of the 2009 third quarter financial review, the Department of Finance and Management identified surpluses and deficits in various objects in several divisions. This ordinance will reduce appropriation authority in the general fund to that which is needed, and will transfer funds among divisions and object level ones in the general fund to properly align appropriations with projected expenditures.
Object level one surpluses and deficits were projected as part of the third quarter financial review. This ordinance makes reductions and transfers to reflect these projections. The amounts do not mirror the third quarter review exactly, due to transfers that have occurred in the interim as well as adjustments made in projections since the release of the review.
This ordinance also provides for a supplemental appropriation to the Recreation and Parks Operating Fund.
This ordinance is submitted as an emergency so as to allow these 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.
This ordinance decreases general fund appropriations for fiscal year 2009 by $8,264,380 and transfers $2,430,409.
Title
To decrease appropriations in the general operating fund of the City of Columbus for fiscal year 2009 by $8,364,380, to transfer of $2,430,409 between various objects and divisions within the general fund; to authorize the subsequent transfer from the general fund of $368,050 to the Recreation & Parks Operating Fund, to reduce existing encumbrances for fleet maintenance, postage, unemployment and other expenses, all to allow divisions to continue to operate through the end of 2009 without interruption, and to declare an emergency ($10,794,789)
Body
WHEREAS, the third quarter financial review conducted by the Department of Finance and Management identified surpluses and de...
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