Explanation
BACKGROUND AND FISCAL IMPACT:
The Department of Finance and Management has identified the need to transfer and increase appropriations related to employee benefits in order to properly align appropriations with projected expenditures. It is necessary to transfer $7,649,611.00 among divisions within the general fund, to transfer and increase appropriations in the amount of $1,118,290.00. in certain non-general fund departments and divisions, and to transfer cash and appropriations in the amount of $1,087,587.00 in the Rec and Parks Operating Fund to allow divisions to continue to operate without interruption through the end of 2025.
EMERGENCY DESIGNATION
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 to allow divisions to operate without interruption through the end of 2025. Up to date financial posting promotes accurate accounting and financial management.
Title
To authorize and direct the City Auditor to provide for the transfer of $7,649,611.00 in appropriation within the general fund; to transfer and increase appropriation in the amount of $1,118,290.00 in certain non-general fund departments and divisions; to transfer cash and appropriation in the amount of $1,087,587.00 in the Rec and Parks Operating Fund; and to declare an emergency ($9,855,488.00).
Body
WHEREAS, The Department of Finance and Management has identified the need to transfer appropriations related to employee benefits in order to properly align appropriations with projected expenditures; and
WHEREAS, it is necessary to transfer and increase appropriation between objects, divisions, and funds in order to allow divisions to continue to operate through the end of 2025; and
WHEREAS, this ordinance is submitted as an emergency so as to allow the financial transactions to be posted in the City's accounting system as soon as possible, promoting accurate accounting and financial...
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