Explanation
Background: This ordinance is to authorize the City Auditor, on behalf of the Recreation and Parks Department, to create a new subfund within the City’s Special Purpose Fund to account for funds received for various green incentive programs. Green incentive programs are opportunities intended to help improve energy efficiency and encourage environmentally beneficial practices. As an example, utility companies provide cash incentives in conjunction with improvement projects when such projects include energy saving equipment or similar. Revenue received from green incentive programs will be deposited into this dedicated subfund. The funds will then be used for the purchase of future supplies and services in conjunction with green projects intended to have an impact on energy efficiency, environmentally beneficial practices, and conservation. The new subfund will be called “Recreation and Parks - Green Projects”.
Emergency Justification: Emergency action is requested in order to allow the use of this new subfund as soon as possible. Multiple incentive payments are expected in the near future as part of construction projects in progress.
Fiscal Impact: Utilizing the City’s Special Purpose Fund will provide the best means for properly tracking and accounting for revenue and expenditures.
Title
To authorize the City Auditor, on behalf of the Recreation and Parks Department, to create a new subfund within the City’s Special Purpose Fund, to account for funds received for various green incentives; and to declare an emergency. ($0.00)
Body
WHEREAS, there is a need to create a new subfund within the City’s Special Purpose Fund to account for funds received and expended for various green incentives; and
WHEREAS, an emergency exists in the usual daily operation of the Recreation and Parks Department in that it is immediately necessary to authorize the creation of the new subfund in order to allow the use of this new subfund as soon as possible as mul...
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