Explanation
BACKGROUND AND FISCAL IMPACT:
As part of the 2015 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 2015, it is necessary to transfer $4,358,220 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 may 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 completion 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.
EMERGENCY DESIGNATION
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 $4,358,220.00 within the general fund; to transfer appropriations between objects in certain non-general fund departments and divisions; and to declare an emergency ($4,358,220.00).
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 and to increase an appropriation in order to allow divisions to continue to operate through the end of 2015; 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 $4,358,220 between various divisions and objects within the general fund, fund 010, as follows:
Attachment: 2015 3rd Quarter trx.xlsx
SECTION 2. That the City Auditor is hereby authorized and directed to transfer appropriations in the amount of $229,045 within the health special revenue operating fund, fund 250, as follows:
From:
Division 50-01, OCA 501618, OL1: 01, $229,045
To:
Division 50-01, OCA 513200, OL1: 02, $47,045
Division 50-01, OCA 500280, OL1: 06, $182,000
SECTION 3. That the City Auditor is hereby authorized and directed to transfer $21,488 within the development services fund, fund 240, as follows:
From:
Division 43-01, OCA 430374, OL1: 01, $21,488
To:
Division 43-01, OCA 430373, OL1: 02, $21,488
SECTION 4. That the City Auditor is hereby authorized to transfer appropriations in the amount of $96,126 within the street construction maintenance and repair fund, fund 265, as follows:
From:
Division 59-13, OCA 591331, OL1: 01, $96,126
To:
Division 59-13, OCA 591331, OL1: 03, $96,126
SECTION 5. That the City Auditor is hereby authorized and directed to transfer $170,797 within the fleet management services fund, fund 513, as follows:
From:
Division 45-05, OCA 451347, OL1: 02, $170,797
To:
Division 45-05, OCA 451347, OL1: 03, $170,797
SECTION 6. 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.