Explanation
The purpose of this legislation is to align appropriations with projected expenditures and allow the Division of Sewerage and Drainage to operate without interruption until the passage of the 2016 operating budget. The 2015 Third Quarter Financial review projected a large surplus in Services and a deficit in Supplies and Materials. There is also a need to move funds from Services to cover the cost of Capital Outlay equipment that is currently in the bid process. This legislation is being processed to move appropriations from Services to Materials and Supplies and Capital Outlay in order to cover the division’s projected needs through the passage of the 2016 operating budget.
FISCAL IMPACT: There is sufficient budget authority available in the 2015 Sewer System Operating Fund’s Budget to fund these transfers and associated expenditures, which total $1,266,911.00
EMERGENCY DESIGNATION: This ordinance is being submitted as an emergency in order to align budget authority with projected expenditures in order for year-end processing to proceed in an orderly, efficient, and timely manner.
Title
To authorize the City Auditor to transfer $1,266,911.00 between Object Levels within the Sewer System Operating fund, and to declare an emergency. ($1,266,911.00)
Body
WHEREAS, the Division of Sewerage and Drainage has a need to transfer $1,266,911.00 between Object Levels in the 2015 Sewer System Operating Fund’s Budget. Funds for the transfer have been identified in the third quarter review and are available in Object Level One: 03; and
WHEREAS, an emergency exists in the usual daily operation of the Department of Public Utilities, Division of Sewerage and Drainage in that it is immediately necessary to transfer appropriation between Object Levels within the Division of Sewerage and Drainage operating fund, for the immediate preservation of the public health, peace, property and safety; now, therefore
BE IT ORDAINED BY THE COUNCIL OF THE CITY ...
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