Explanation
BACKGROUND:
This legislation authorizes the City Auditor to transfer funds within the Water Operating Fund and the Sanitary Sewer Operating Fund. It also authorizes supplemental appropriation within the Storm Sewer Operating Fund and the Electricity Operating Fund.
The results of the third quarter financial review show both positive and negative budgetary variances in multiple funds for Columbus Water and Power. This request transfers budget appropriation where expenditures were less than budgeted into funding categories where expenditures are more than expected. These transactions are required to properly align budget appropriation and allow the divisions to continue operations until a new operating budget is passed by City Council. Supplemental appropriation is requested where positive budgetary variances were not sufficient to cover expected deficits within the Storm Sewer Operating Fund and Electricity Operating Fund.
FISCAL IMPACT:
A transfer between object classes of $3,664,221.00 is needed within the Water Operating Fund and a transfer of $6,602,770.00 is needed in the Sanitary Sewer Operating Fund. An increase in appropriation of $1,500,000.00 is needed within the Storm Sewer Operating Fund and $2,000,000.00 within the Electricity Operating Fund.
These transfers and supplements are required to pay for internal service charges, primarily pro-rata, where the remaining budget appropriation is not sufficient. The fund balances can support these transactions.
EMERGENCY JUSTIFICATION: Emergency action is requested to add funding (via transfer and supplemental appropriation) to the Water Operating, Sanitary Sewer Operating, Storm Sewer Operating and Electricity Operating Funds to cover expected deficits for additional internal bills. Failure to do so immediately would result in a lack of services appropriation and prevent any other operational encumbrance.
Title
To appropriate $1,500,000.00 within the Storm Sewer Operating Fund and $2,000...
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