Explanation
BACKGROUND: The purpose of this ordinance is to authorize the City Auditor to create a new subfund within the City’s Special Purpose Fund to account for the activities of the Music in the Air Program at the Columbus Recreation and Parks Department. The current existing cash and appropriation will be transferred to the newly established fund.
In order to properly track and account for these monies in a non-grant format, we are requesting that the City Auditor create a new subfund within the City's Special Purpose Fund, Fund No. 223.
FISCAL IMPACT: Currently, revenues and donations collected from the Recreation and Parks Festivals are deposited into the Recreation and Parks Grants Fund No. 286, to the Music in the air Grant No. 518626. Utilizing the City’s Special Purpose Fund provides the best means for properly tracking and accounting for these monies.
At the writing of this ordinance, there is $110,242.40 available in Grant No. 518626 for new appropriation to this newly established fund. This ordinance will authorize the City Auditor to transfer the unencumbered cash balance of Grant No. 5186260 to the City’s Special Purpose Fund and appropriate those monies to the Recreation and Parks Department for the continuation of the Music in the Air Programs.
Title
To authorize an appropriation of $110,242.40 from the unappropriated balance of the Recreation and Parks Grant Fund to the Recreation and Parks Special Purpose Fund for various services during 2014 funded through donations; to authorize the City Auditor to create a new subfund within the City’s Special Purpose Fund to account for Music in the Air activities; to authorize that any such future deposits as the City may receive into these subfunds are hereby deemed to be appropriated; and to declare an emergency. ($110,242.40)
Body
WHEREAS, it is in the best interest of the City to authorize any such future deposits as the City may receive into these subfunds are hereby deemed to be a...
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