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. In 2016, Ordinances 1941-2016 and 2546-2016, collectively authorized $700,000.00 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 ordinance authorizes the City Auditor to encumber $221,000.00 collectively within the Public Safety G.O. Bonds Fund and the Construction Management Capital Improvement Fund for the purpose of Office of Construction Management staffing costs. This ordinance also includes funding which is contingent upon the 2017 Bond Sale proceeds being deposited into the Public Safety G.O. Bonds Fund.
Title
To amend the 2017 Capital Improvement Budget; to authorize the City Auditor to transfer various funds within the Construction Management Capital Improvement Fund and the Public Safety Capital Improvement Fund; to authorize the Finance and Management Director to expend $221,000.00 in the Construction Management Capital Improvement Fund to reimburse the General Fund for construction and building r...
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