...Explanation
Background: This ordinance authorizes the transfer of $491,702.00 from the General Fund to the 1111 East Broad Street Operations Fund (Fund 294, Subfund 001). This fund is used to support the operations of the Jerry Hammond Building, 1111 East Broad Street. These monies have already been appropriated by Ordinance 1969-2007. This ordinance transfers these funds from the General Fund to subsidize the 1111 East Broad Street Operations Fund. Among others, this building houses the administrative offices of the Technology Department and Recreation and Parks Department.
Emergency action is requested to establish this appropriation authority as soon as possible in order to promote and be consistent with accurate accounting practices.
Fiscal Impact: The ordinance transfers $491,702.00 from the General Fund to the 1111 East Broad Street Operations Fund (Fund 294, Subfund 001). This money was budgeted in the General Fund for this purpose. The Jerry Hammond Center receives cash from rental funds from a tenant in the building, a transfer of budgeted monies from the General Fund, and transfers from the Economic Stabilization Fund in the unanticipated event that other funds are insufficient.
Title
To authorize the transfer of $491,702.00 from the Finance and Management Department, Facilities Management Division's General Fund to the 1111 East Broad Street Operations Fund; and to declare an emergency ($491,702.00).
Body
WHEREAS, it is necessary to transfer appropriated funds from the General Fund to the Jerry Hammond Building, 1111 East Broad Street Operations Fund for use, and
WHEREAS, an emergency exists in the usual daily operation of the Finance and Management Department, Facilities Management Division, in that it is immediately necessary to authorize the transfer of $491,702.00 from the General Fund to the 1111 East Broad Street Operations Fund to promote and be consistent with accurate and accounting practices, thereb...
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