Explanation
Because of the lack of golf play during the winter months, the Golf Division experienced a shortage of carryover funds during the first quarter of 2008, thus making it difficult to cover payroll and other operating expenses during the first quarter of 2008. This is compounded by the fact that projected 2008 revenues are insufficient to support operating expenses. To address this issue, the Division is preparing a business plan to illustrate how projected annual expenditures will be brought in line with revenues. This legislation would authorize the City Auditor, in his discretion, to make temporary transfers from the Recreation and Parks Special Revenue Fund to the Golf Division Fund. It is the intent that all transfers from the Recreation and Parks Special Revenue Fund into the Golf Fund be repaid as soon as possible.
Title
To authorize the City Auditor to make temporary transfers and repayments, if necessary, from and to the Recreation and Parks Special Revenue Fund, Fund 285, to the Golf Division Fund, Fund 284, to cover payroll and other operating expenses, and to declare an emergency.
Body
WHEREAS, the City Auditor, in consultation with the Director of Finance and Management, is authorized to make temporary transfers and repayments, if necessary, from the Recreation and Parks Special Revenue Fund, Fund 285, to the Golf Division Fund, Fund 284; and
WHEREAS, the repayment of such temporary transfers shall be the priority of Fund 284; and
WHEREAS, an emergency exists in the usual daily operation of the City of Columbus, in that it is immediately necessary to authorize the City Auditor to make temporary transfers and repayments from the Recreation and Parks Special Revenue Fund to the Golf Division Fund in order to cover payroll and other operating expenses; now therefore
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS:
Section 1. That the City Auditor, in consultation with the Director of Finance and Mana...
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