Explanation
BACKGROUND:
This ordinance provides for the transfer of $385,500.00 in the general fund between divisions within the Finance and Management Department. The transfer does not affect the overall general fund budget or overall departmental projections of the Third Quarter Financial Review.
Emergency action is requested so as to allow these 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: The ordinance transfers general fund appropriation between divisions of the Finance and Management Department. It will not change the overall balance of the General Fund.
Title
To authorize and direct the City Auditor to provide for the transfer of $385,500.00 between divisions within the Finance and Management general fund budget so that rest of year expenditures occur in the proper accounting codes; and to declare an emergency. ($385,500.00)
Body
WHEREAS, it is necessary to transfer funds between divisions within the Finance and Management Department; and
WHEREAS, it is necessary to reduce an encumbrance in the Facilities Management Division, and
WHEREAS, an emergency exists in the usual daily operation of the City of Columbus in that it is immediately necessary transfer funds so that financial transactions are posted in the City's accounting system as soon as possible, for the immediate preservation of the public health, peace, property, safety and welfare; now, Therefore;
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS:
SECTION 1. That the City Auditor is hereby authorized and directed to transfer $385,500.00 between Finance and Management Department divisions within the general fund, fund 010, as follows:
FROM:
Dept/Div.: 45-07; Fund: 010; OCA: 450043; OL3: 3311; Amount: $295,000.00
Dept/Div.: 45-07, Fund: 010, OCA: 450040: OL3: 2204: Amount: $20,000.00
Dept/Div.: 45-01:...
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