Explanation
As part of the 2019 third quarter financial review, the Department of Finance and Management identified surpluses and deficits in various object classes in several divisions. In order to properly align appropriations with projected expenditures and allow divisions to operate without interruption through the end of 2019, it is necessary to transfer $12,513,956.00 among divisions within the general fund.
Object class surpluses and deficits were projected as part of the third quarter financial review. This ordinance makes transfers to reflect these projections. The amounts may not mirror the third quarter review exactly, due to transfers that have occurred in the interim as well as adjustments made in projections since the completion of the review.
This ordinance also authorizes appropriation transfers and additional appropriations for certain non-general fund departments and divisions in order to provide appropriations in the necessary object classes for the remainder of the fiscal year.
In addition, Council would like to authorize an appropriation of $50,000 in the neighborhood initiatives subfund, to the Recreation and Parks Department, in support of an extension of the APPS (Applications for Purpose, Pride, and Success) summer youth program.
Lastly, a reduction in the general fund subsidy encumbrances for the Recreation and Parks Department and the Health Department is necessary to allow for the aforementioned transfers of appropriation within the general fund.
EMERGENCY DESIGNATION
This ordinance is submitted as an emergency so as to allow these financial transactions to be posted in the City's accounting system as soon as possible. Up to date financial posting promotes accurate accounting and financial management.
Title
To authorize and direct the City Auditor to provide for the transfer of $12,513,956.00 within the general fund; to transfer appropriations between objects in certain non-general fund departments and divisions; to a...
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