Explanation
1. BACKGROUND
This ordinance authorizes the annual appropriation of monies within the Municipal Motor Vehicle License Tax Fund for the Divisions of Infrastructure Management and Traffic Management. This $5.00 permissive tax has been levied by the City of Columbus since 1987. This money is used for operating expenses consistent with the 2018 budget. The amount being appropriated within this ordinance is $6,750,000.00. Proposed expenditures are estimates and are subject to change. Where appropriate, expenditure ordinances will be submitted to City Council for approval to procure these commodities and equipment.
2. FISCAL IMPACT
This ordinance authorizes the appropriation for 2018 in the amount of $6,750,000.00 for the Municipal Motor Vehicle License Tax Fund. Annual revenue into this Fund is consistently in the $3,500,000.00 to $3,700,000.00 range. The 2018 projected revenue along with anticipated 2017 carryover will provide the fund with adequate cash balances.
3. EMERGENCY DESIGNATION
Emergency action is requested to make these funds available to the division as soon as practical to meet anticipated 2018 needs.
Title
To appropriate $6,750,000.00 from the unappropriated balance of the Municipal Motor Vehicle License Tax Fund for anticipated 2018 operating expenditures for the Department of Public Service, Division of Infrastructure Management and Traffic Management; and to declare an emergency. ($6,750,000.00)
Body
WHEREAS, it is necessary to authorize the appropriation of funds in the Municipal Motor Vehicle License Tax Fund for the Division of Infrastructure Management and Traffic Management; and
WHEREAS, this appropriation will allow for planned expenditures utilizing monies from said fund as early as possible in 2018; and
WHEREAS, this ordinance authorizes the appropriation of $6,750,000.00 within the Municipal Motor Vehicle License Tax Fund for 2018 expenditures; and
WHEREAS, an emergency exists in the usual daily opera...
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