Explanation
BACKGROUND:
As a result of the 2004 third quarter financial review, surpluses and deficits were identified within the Department of Technology, Telecommunications Division cable fund. This ordinance provides for transfers within DoT appropriations in order to properly align object appropriations with the projected expenditures, allowing the division to operate without interruption through the end of 2004.
This ordinance is submitted as an emergency to allow for the financial transaction 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:
Funding for the transfers are available within the Telecommunications 2004 appropriations and are consistent with the 2004 third quarter financial review.
Title
To authorize and direct the City Auditor to transfer $37,000 within the Department of Technology, Telecommunications cable fund; and to declare an emergency. ($37,000.00)
Body
WHEREAS, the third quarter 2004 financial review identified deficits and surpluses within the Department of Technology, Telecommunications cable fund; and
WHEREAS, surpluses and deficits identified in the Department of Technology in the 2004 third quarter financial review necessitate a transfer of funds between objects to allow the department to continue to operate through the end of 2004; and
WHEREAS, an emergency exists in the usual daily operation of the City of Columbus in that it is immediately necessary to undertake the aforementioned action, thereby preserving 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 $37,000 between various objects within the Department of Technology, Telecommunications Division, division number 4703, cable fund, fund number 203, as follows:
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