Explanation
BACKGROUND: This legislation amends the 2008 Capital Improvement Budget and authorizes the City Auditor to transfer funds between projects within the Safety Bond Fund. Four completed Capital Improvement Projects in Public Safety have leftover funds that need transferred to projects that are still in progress. The funds to be transferred are each less than one thousand dollars and are no longer needed in the current projects. In addition, this ordinance authorizes amendments to the Capital Improvement Budget which will account for recent encumbrance cancellations.
Fiscal Impact: There is no net financial impact with these transfers. This transaction merely aligns cash with projected expenditures and rids the accounting system of projects with leftover cash of less than one thousand dollars.
Emergency Designation: Emergency legislation is requested in order to complete this transaction before the end of the year.
Title
To amend the Department of Public Safety's 2008 Capital Improvement Budget, to authorize the City Auditor to transfer leftover cash between projects in the Safety Voted Bond Fund to properly align funds with projected expenditures, and to declare an emergency. ($913.50)
Body
WHEREAS, it is necessary to amend Public Safety's 2008 Capital Improvement Budget and to authorize the City Auditor to transfer funds within projects in the Safety Voted Bond Fund; and
WHEREAS, these funds are leftover cash of less than one thousand dollars from projects that have been completed; and
WHEREAS, these transfers are necessary to properly align cash within projects with projected expenditures; and
WHEREAS, recent encumbrance cancellations require amendments to the Capital Improvement Budget; and
WHEREAS, an emergency exists in the usual daily operation of the Department of Public Safety in that it is immediately necessary to amend Public Safety's 2008 Capital Improvement Budget and authorize these transfers before the ...
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