Explanation
Brief Description: Ordinance 1843-2017 legislated $1,364,451.45 for the NCR Weinland Park (7th to 9th) project to pay for construction administration and inspection services. Funding was used from the Urban Infrastructure Recovery Fund (UIRF) when funding should have come from Neighborhood Commercial Revitalization (NCR). Currently, UIRF has more projects than usual going into construction. The borrowed funds are now needed to be paid back so these UIRF projects can move forward.
Background: This legislation authorizes the City Auditor to transfer cash and appropriation within the Streets and Highways G.O. Bonds Fund 7704, in order to replenish the original cash and appropriation levels in UIRF and NCR. Funds from UIRF were borrowed to pay for construction administration and inspection services for the NCR Weinland Park (7th to 9th) project. Funds should have been legislated from the NCR program. Now that UIRF has numerous projects lining up to start construction the earlier transfer needs to be corrected to restore funding in UIRF so these projects can move forward.
Fiscal Impact: Cash is available to be transferred in Fund 7704 Streets and Highways Bond Fund.
Emergency Justification: Emergency action is requested so that the projects receiving the cash back can move forward.
Title
To amend the 2018 Capital Improvement Budget; to authorize the City Auditor to transfer cash and appropriation between projects within Fund 7704 Streets and Highways Bond Fund to replace funds borrowed for use on a construction project; and to declare an emergency. ($1,364,451.45)
Body
WHEREAS, Ordinance 1843-2017 legislated $1,364,451.45 for construction administration and inspection services for NCR Weinland Park (7th to 9th); and
WHEREAS, funding was borrowed from the Urban Infrastructure Recovery Fund program; and
WHEREAS, funding should have come from the Neighborhood Commercial Revitalization program; and
WHEREAS, cash must now be paid back to UIRF so projects can move into construction; and
WHEREAS, an emergency exists in the usual daily operation of the Department of Public Service in that it is immediately necessary to authorize the City Auditor to transfer cash and appropriation between projects within Fund 7704 Streets and Highways Bond Fund to replace funds borrowed for use on a construction project; now, therefore
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS:
SECTION 1. That the 2018 Capital Improvements Budget, authorized by Ordinance 1010-2018, be and is hereby amended to provide sufficient budget authority for the appropriate projects authorized within this ordinance as follows:
Fund / Project / Project Name / C.I.B. / Change / C.I.B. as Amended
7704 / P530058-100005 / NCR-TBD / $2,039,169 (Voted Carryover) / ($1,364,452) / $674,717
7704 / P440005-100000 / Urban Infrastructure Recovery Fund / $948,349 (Voted Carryover ) / $1,364,452 / $2,312,801
SECTION 2. That the City Auditor be authorized to transfer cash and appropriation between projects within the Streets and Highways Bond Fund 7704 per the account codes in the attachment to this ordinance.
SECTION 3. That the funds necessary to carry out the purpose of this ordinance are hereby deemed appropriated, and the City Auditor shall establish such accounting codes as necessary.
SECTION 4. That the City Auditor is authorized to make any accounting changes to revise the funding source for all contracts or contract modifications associated with this ordinance.
SECTION 5. That the City Auditor is hereby authorized to transfer the unencumbered balance in a project account to the unallocated balance account within the same fund upon receipt of certification by the Director of the Department administering said project that the project has been completed and the monies are no longer required for said project.
SECTION 6. That for reasons stated in the preamble hereto, which is hereby made a part hereof, this ordinance is hereby declared to be an emergency measure and shall take effect and be in force from and after its passage and approval by the Mayor or ten days after passage if the Mayor neither approves nor vetoes the same.