Explanation
The purpose of this legislation is to authorize the City Auditor to transfer funds within the Water Operating Fund and between the Water Operating Fund and the Electricity Operating Fund to allow for payment to the Division of Power for electric usage that was previously underbilled. Two of the meters at the Hap Cremean Water Plant had multiplier errors, which resulted in underreported usage and prompted the need for billing corrections. The Division of Power has calculated the unbilled charges to total $1,422,822.68. This legislation also authorizes the appropriation of $1,422,822.68 within the Electricity Operating Fund for funding of a future capital project.
FISCAL IMPACT: There is sufficient budget authority available in the 2017 Water Operating Fund’s Budget to fund the transfers and appropriation, which total $1,422,822.68.
EMERGENCY DESIGNATION: This ordinance is being submitted as an emergency in order to align budget authority with projected expenditures to provide for the timely payment of these charges to the Division of Power.
Title
To authorize the City Auditor to transfer $1,422,822.68 between Object Classes within the Water Operating Fund Budget; to authorize the transfer of $1,422,822.68 from the Water Operating Fund to the Electricity Operating Fund for the payment of unbilled electric charges for the Division of Water; to appropriate $1,422,822.68 within the Electricity Operating Fund; and to declare an emergency. ($1,422,822.68).
Body
WHEREAS, the Division of Water has a need to transfer $1,422,822.68 between Object Classes within the 2017 Water Operating Fund’s Budget. Funds for the transfer have been identified and are available in Object Classes 01 (Personnel), 02 (Supplies & Materials), 03 (Services), and 06 (Capital); and
WHEREAS, the Division of Water has a further need to transfer those funds to the Electricity Operating Fund for the payment of unbilled charges resulting from multiplier errors in two me...
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