Explanation
BACKGROUND: The Center of Science and Industry (COSI) is supported by a network of community and statewide partnerships, including relationships with a variety of educational institutions, cultural and arts partners, as well as donors, sponsors, members, and more than 900,000 people served per year through visits to the museum and outreach activities.
In recognition of COSI as a cultural, educational and entertainment destination, the city committed to invest a total of $2 million in COSI in 2007 and 2008. The 2008 commitment is for a total of $1 million: $800,000 from the general fund, $150,000 from Greater Columbus Arts Council grants and $50,000 in-kind support for insurance coverage. This funding will support early childhood development education efforts, family learning opportunities, and interactive science, math and technology activities.
This legislation authorizes the Director of Finance and Management to enter into contract with COSI and for the expenditure of $800,000. This is a budgeted expense. The Contract compliance number is #31-4383802. COSI is a nonprofit organization and is exempt from certification.
This ordinance is submitted as an emergency so as to allow the financial transaction to be posted in the city's accounting system as soon as possible. Up to date financial processing promotes accurate accounting and financial management.
FISCAL IMPACT: A total of $800,000 was budgeted in the citywide account of the Department of Finance and Management for this contract.
Title
To authorize the transfer of $800,000 within the General Fund, Department of Finance and Management, Financial Management Division, to authorize the expenditure of $800,000 from the General Fund; to authorize the Director of the Finance and Management Department to enter into a contract with COSI Columbus; and to declare an emergency. ($800,000)
Body
WHEREAS, the Center of Science and Industry (COSI) is supported by a netw...
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