Explanation
Background: This ordinance authorizes the Director of Public Utilities to transfer cash and amend the 2012 Capital Improvements Budget (CIB) for the Department of Public Utilities, Division of Power and Water and Division of Sewerage and Drainage (Stormwater). This will align the needed cash and authority for the Division of Water, the Division of Power and the Division of Sewerage and Drainage (Stormwater) projects scheduled in 2013.
Emergency action: This ordinance is submitted as an emergency so as to allow the financial transactions 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: This legislation includes a transfer of funds between the Water Works Enlargement Voted Bonds Fund, the Water Build America Bonds Fund, the Water Permanent Improvements Fund, the Electricity G.O. Bond Fund, Storm Build America Bonds Fund, the Storm Recovery Zone Build America Bonds Fund and the Storm Sewer Bond Fund. An amendment to the 2012 Capital Improvements Budget will also be necessary.
Title
To authorize the City Auditor to transfer funds within the Water Works Enlargement Voted Bonds Fund, the Water Build America Bonds Fund, the Water Permanent Improvements Fund, the Electricity G.O. Bond Fund Storm Build America Bonds Fund, the Storm Recovery Zone Build America Bonds Fund and the Storm Sewer Bond Fund, in order to align current cash and authority with the Department of Public Utilities, Division of Power and Water and Division of Sewerage and Drainage current and future needs; to amend the 2012 Capital Improvements Budget; and to declare an emergency. ($0.00)
Body
WHEREAS, it is necessary for this Council to authorize the City Auditor to transfer funds within the Department of Public Utilities, Division of Water’s Water Works Enlargement Voted Bonds Fund, Water Build America Bonds Fund, Water Permanent Improvements Fund, the Elec...
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