Explanation
NEED: This legislation authorizes the transfer of monies within the Storm Sewer Bonds Fund, $85,000.00; and to amend the 2003 Capital Improvements Budget in order to settle the claims of Ralph E. Hazelbaker and Billie E. Hazelbaker in the case of Ralph E. Hazelbaker, et al. v. James P Joyce, et al., United States District Court, Southern District of Ohio, Case No. C2-97-518.
EMERGENCY DESIGNATION: This ordinance is submitted as an emergency so as to allow the financial transaction to be posted in the City's accounting system as soon as possible. Up to date financial posting promotes accurate accounting and financial management.
FISCAL IMPACT: The project for which this legislation requests fund transfer currently has an insufficient balance to allow for the aforementioned expenditure. This transfer does not reflect any changes to the project planned in the 2003 Capital Improvements Budget (CIB). The change is a temporary measure for the project that is being designed or constructed to maintain efficient cash flow within the Stormwater CIB. Funds will be made available for all approved projects as needed.
TRANSFER FROM:
610723 East Street Sewer Replacement $85,000.00
TRANSFER TO:
610807 Sharon Hills $85,000.00
Current 2003 Capital Improvements Budget Authority
610824 Dry Run Flood Routing at Valleyview $100,000.00
610807 Sharon Hills $0.00
Revised 2003 Capital Improvements Budget Authority
610824 Dry Run Flood Routing at Valleyview $15,000.00
610807 Sharon Hills $85,000.00
Title
To authorize the City Auditor to make an intra-subfund transfer of monies within the Storm Sewer Bonds Fund, pursuant to providing the necessary capital project funds to settle the claims of Ralph E. Hazelbaker and Billie E. Hazelbaker in the case of Ralph E. Hazelbaker, et al. v. James P Joyce, et al., United States District Court, Southern District of Ohio, Case No. C2-97-518 in the a...
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