Explanation
1. BACKGROUND:
This legislation authorizes the City Auditor to transfer funds in the amount of $13,206,390.55 into the appropriate Capital Improvement Projects to reflect the planned 2012 spending plan for the Division of Sewerage and Drainage and Treatment Engineering for the Department of Public Utilities and to amend the 2011 Capital Improvements Budget.
2. FISCAL IMPACT:
This ordinance will better align the funding needs and funding authority with the planned spending plan for 2012, help reduce the number of funding transfers within the General Obligation Bond Fund, Fund 664 and provide sufficient budget authority for the planned project expenditures for the Division of Sewerage and Drainage and Treatment Engineering.
Title
To authorize the City Auditor to transfer funds in the amount of $13,206,390.55 within the General Obligation Bond Fund into the appropriate Capital Improvement Projects to provide sufficient budget authority for the planned project expenditures; to reflect the 2012 spending plan for the Division of Sewerage and Drainage and Treatment Engineering for the Department of Public Utilities; to amend the 2011 Capital Improvements Budget, and to declare an emergency. ($13,206,390.55).
Body
WHEREAS, it is necessary to align the funding needs and authority within the Divisions of Sewerage and Drainage and Treatment Engineering's 2012 Spending Plan to help reduce the number of fund transfers within the General Obligation Bond Fund, Fund 664; and
WHEREAS, it is necessary for this Council to authorize the City Auditor to transfer funds within the General Obligation Bond Fund; and
WHEREAS, it is necessary to authorize an amendment to the 2011 Capital Improvements Budget for purposes of providing sufficient budget authority for the project expenditures; and
WHEREAS, an emergency exists in the usual daily operation of the Division of Sewerage and Drainage, Department of Public Utilities, in that it is immediately necessary to aut...
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