Explanation
1. BACKGROUND
This ordinance authorizes the annual appropriation of monies within the Municipal Motor Vehicle License Tax Fund for the Divisions of Infrastructure Management and Traffic Management. The City of Columbus has levied this $5.00 permissive tax since 1987. The city uses the money for operating expenses consistent with the 2015 budget. The amount appropriated within this ordinance is $4,055,000.00. Proposed expenditures are estimates and are subject to change. Where appropriate, the department will submit expenditure ordinances to City Council for approval to procure commodities and services.
2. FISCAL IMPACT
This ordinance authorizes the appropriation for 2015 in the amount of $4,055,000.00 for the Municipal Motor Vehicle License Tax Fund. Annual revenue into this fund is consistently in the $3,000,000.00 to $3,500,000.00 range. The 2015 projected revenue along with anticipated 2014 carryover will provide the fund with adequate cash balances. Ordinance 0084-2014 passed by City Council January 27, 2014, authorized the 2014 appropriation of $3,763,000.00.
3. EMERGENCY DESIGNATION
The department requests emergency designation to make these funds available to the division as soon as practical to meet anticipated 2015 needs.
Title
To appropriate $4,055,000.00 from the unappropriated balance of the Municipal Motor Vehicle License Tax Fund for anticipated 2015 operating expenditures for the Department of Public Service, Division of Infrastructure Management and Traffic Management; and to declare an emergency. ($4,055,000.00)
Body
WHEREAS, it is necessary to authorize the appropriation of funds in the Municipal Motor Vehicle License Tax Fund for the Division of Infrastructure Management and Traffic Management; and
WHEREAS, this appropriation will allow for planned expenditures utilizing monies from said fund as early as possible in 2015; and
WHEREAS, this ordinance authorizes the appropriation of $4,055,000.00 within the Munic...
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