EXPLANATION
BACKGROUND: The Finance and Management Department, Office of Construction Management, employs personnel that are engaged in overseeing various construction and building renovation capital projects for the City. The staffing costs for the Office of Construction Management are initially expensed to the General Fund; however, the portion related to managing capital projects is eligible to be capitalized. Doing so is consistent with earlier efforts by the Office of Construction Management to reimburse the General Fund when the General Fund has incurred expenses more appropriate to capital improvement funding. Most recently, Ordinance No. 2271-2015, passed September 21, 2015, authorized $503,000.00 for this purpose. The Office of Construction Management tracks the hours each employee works on individual projects and bills these hours to the associated capital project. This process reimburses the General Fund for the portion of staff time attributable to capital projects.
Emergency action is requested so that reimbursement to the General Fund can occur as quickly as possible. Up-to-date financial posting promotes accurate accounting and financial management.
Fiscal Impact: This expenditure is budgeted and available within Public Safety G.O. Bonds Fund and the Construction Management Capital Improvement Fund. This Ordinance authorizes the expenditure of $555,000.00, or so much thereof, as may be necessary for this purpose.
Title
To amend the 2016 Capital Improvement Budget; to authorize the City Auditor to transfer various funds within the Construction Management Capital Improvement Fund; to authorize the Finance and Management Director to expend $555,000.00, or so much thereof as may be necessary to reimburse the General Fund for construction and building renovation expenses incurred by the Office of Construction Management; to authorize expenditures from various capital projects; and to declare an emergency. ($555,000.00)
Body
WHEREAS, the Off...
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