Explanation
BACKGROUND AND FISCAL IMPACT:
As part of the 2013 third quarter financial review, the Department of Finance and Management identified surpluses and deficits in various objects in several divisions. In order to properly align appropriations with projected expenditures and allow divisions to operate without interruption through the end of 2013, it is necessary to transfer $3,124,256 among divisions within the general fund.
Object level one surpluses and deficits were projected as part of the third quarter financial review. This ordinance makes transfers to reflect these projections. The amounts do not mirror the third quarter review exactly, due to transfers that have occurred in the interim as well as adjustments made in projections since the release of the review.
This ordinance also authorizes appropriation transfers for certain non-general fund departments and divisions in order to provide appropriations in the necessary objects for the remainder of the fiscal year.
This ordinance is submitted as an emergency so as to allow these financial transactions to be posted in the City's accounting system as soon as possible. Up to date financial posting promotes accurate accounting and financial management.
Title
To authorize and direct the City Auditor to provide for the transfer of $3,124,256.00 within the general fund; to transfer appropriations between objects for certain non-general fund departments and divisions; and to declare an emergency ($3,124,256.00).
Body
WHEREAS, the third quarter financial review conducted by the Department of Finance and Management identified surpluses and deficits in the various objects of several general fund divisions; and
WHEREAS, it is necessary to transfer funds between objects and divisions, to increase an appropriation, and to cancel certain encumbering documents in order to allow divisions to continue to operate through the end of 2013; and
WHEREAS, it is necessary to transfer funds between objects in the Fleet Management Division and the Information Services Division; and
WHEREAS, 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, promoting accurate accounting and financial management.
WHEREAS, an emergency exists in the usual daily operation of the City of Columbus in that it is immediately necessary transfer funds for the immediate preservation of 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 $3,124,256 between various divisions and objects within the general fund, fund 010, as follows:
Attachment: 2013 3rd Quarter trx.xlsx
SECTION 2. That the City Auditor is hereby authorized and directed to transfer appropriations in the amount of $200,000 within the fleet management fund, fund 513, subfund 001, from Division 45-05, OCA 451206, OL1: 01, to Division 45-05, OCA 451206, OL1: 03.
SECTION 3. That the City Auditor is hereby authorized and directed to transfer $68,350 within the information services fund, fund 514, subfund 001, from Division 47-02, OCA 280735, OL1: 01, to Division 47-02, OCA 280735, OL1: 02.
SECTION 4. That the City Auditor is hereby authorized and directed to transfer appropriations within the health operating fund, fund 250, as follows:
From:
OCA Object Level 1 Amount
500131 01 $89,054
To:
OCA Object Level 1 Amount
500272 02 $43,087
503219 03 $45,967
SECTION 5. That the City Auditor is hereby authorized and directed to transfer appropriations in the amount of $2,251 within the print and mail services fund, fund 517, from Division 45-01, OCA 451233, OL1: 03, to Division 45-01, OCA 451233, OL1: 01.
SECTION 6. That the City Auditor is hereby authorized to transfer appropriations in the amount of $1,323 within the parking meter program fund, fund 268, from Division 59-10, OCA 268101, OL1: 01 to Division 59-10, OCA 268101, OL1: 03.
SECTION 7. That the City Auditor is hereby authorized to transfer appropriations in the amount of $56,677 within the street construction maintenance and repair fund, fund 265, from Division 59-01, OCA 590145, OL1: 01 to Division 59-11, OCA 591117, OL1: 01.
SECTION 8. That the City Auditor shall transfer funds up to $3,200,000 included in Object Level 1 10 of the Department of Public Safety to the "Economic Stabilization Fund" subject to the authorization of the Director of Finance and Management.
SECTION 89. That for the reasons stated in the preamble hereto, which is hereby made a part hereof, this ordinance is hereby declared to be an emergency measure and shall take effect and be in force from and after its passage and approval by the Mayor, or ten days after passage if the Mayor neither approves nor vetoes the same.