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 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. 0749-2010, passed June 9, 2010, authorized $432,000.00 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 reimburses the General Fund approximately $350,000.00 per fiscal year.
Emergency action is requested so that reimbursement of the General Fund can occur as quickly as possible. 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 $361,482.14, or so much thereof, as may be necessary for this purpose.
Title
To authorize the Finance and Management Director to expend $361,482.14, 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 2011 Capital Improvement Budget; to authorize the City Auditor to cancel the balance of certain encumbrances; to authorize an expenditure from the Construction Management Capital Improvement Fund and the Safety Voted Bond Fund; and to declare an emergency. ($361,482.14)
Body
WHEREAS, the Office of Construction Management employs personnel engaged in construction and building renovation activities; and
WHEREAS, these costs can be capitalized; and ...
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