Explanation
BACKGROUND & FISCAL IMPACT:
As part of the 2014 Third Quarter Financial Review, the Department of Finance and Management identified surpluses and deficits in various objects in the Health Special Revenue Fund, Fund No. 250. In order to properly align appropriations with projected expenditures and allow the Health Department to operate without interruption through the end of 2014, it is necessary to transfer $141,718 among the Object Level Ones within the Health Special Revenue 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 mirror the third quarter review exactly.
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 $141,718.00 within the Health Special Revenue Fund to properly align appropriations with projected expenditures and allow the Health Department to operate without interruption through the end of 2014; and to declare an emergency ($141,718.00).
Body
WHEREAS, the Third Quarter Financial Review conducted by the Department of Finance and Management identified surpluses and deficits in the various objects of the Health Special Revenue Fund; and
WHEREAS, it is necessary to transfer appropriation authority among the Object Level Ones in order to allow the Health Department to continue to operate through the end of 2014; 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; and
WHEREAS, an emergency exists in the usual daily operation of the Health Department in that it...
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