Explanation
BACKGROUND
As part of the 2026 third quarter financial review, the Department of Finance and Management identified surpluses and deficits in various object classes in several divisions. In order to properly align appropriations with projected expenditures and allow divisions to operate without interruption through the end of 2026, it is necessary to transfer $29,091,182.00 among divisions within the general fund and $1,442,116.00 in certain non-general fund departments and divisions.
Object class surpluses and deficits were projected as part of the third quarter financial review. This ordinance makes transfers to reflect these projections. The amounts may 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 completion of the review. This ordinance also authorizes appropriation transfers and additional appropriations for certain non-general fund departments and divisions in order to provide appropriations in the necessary object classes for the remainder of the fiscal year. This ordinance is contingent upon the passage of Ordinance 3031-2026.
FISCAL IMPACT
This ordinance authorizes the transfer funds between objects, divisions and funds in order to allow divisions to continue to operate through the end of 2026. Additional appropriation is being authorized for the general fund due to the revised revenue estimate of the City Auditor. This ordinance is contingent upon the passage of Ordinance 3031-2026.
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 2026. 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 $29,091,182.00 within the general fund;...
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