Explanation
BACKGROUND: The Finance and Management Department, Office of Construction Management, employs personnel that are engaged in overseeing various construction and building renovation capital projects. These personnel are budgeted within, and paid from, the General Fund. These costs can be capitalized. Doing so is consistent with earlier efforts by the Office of Construction Management to reimburse the General Fund when the General Fund incurred expenses more appropriate to capital improvement funding. Most recently, Ordinance No. 1591-2009, passed December 9, 2009, authorized $268,750.00 for these purposes. The Office of Construction Management tracks the hours each employee works on individual projects and bills these hours back to the proper capital project. This process can help save the General Fund over $400,000.00 per fiscal year.
Emergency action is requested so that the reimbursement of the General Fund, as projected in the First Quarter Financial Review, can occur as quickly as possible. It was impossible to present this ordinance earlier, as only recently has the bond sale/Special Income Tax certification list been completed. Up to date financial posting promotes accurate accounting and financial management.
Fiscal Impact: This expenditure is budgeted and available within the Construction Management Capital Improvement Fund and the Safety Voted Bond Fund. This ordinance authorizes the expenditure of $432,000.00 or so much thereof as may be necessary for this purpose.
Title
To authorize the Finance and Management Director to expend $432,000.00 or so much thereof as may be necessary, to reimburse the General Fund for construction and building renovation expenses incurred by the Office of Construction Management; to amend the 2010 Capital Improvement Budget; to authorize the transfer of $300,000.00 within the Construction Management Capital Improvement Fund; to authorize the City Auditor to cancel the balance of certa...
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