Explanation
BACKGROUND: On July 23, 2021, the City Auditor published a second revision to the 2021 estimate of available resources into the general operating fund. As a result of positive revenue variances in income tax and other categories, the 2021 Official Revenue Estimate was increased by a total of $63.022 million. This ordinance authorizes the appropriation of these resources within the general operating fund.
FISCAL IMPACT: This ordinance authorizes an appropriation of $63,022,000.00 in the general operating fund.
Title
To authorize the appropriation of $63,022,000.00 within the General Fund; and to declare an emergency ($63,022,000.00)
Body
WHEREAS, as a result of monitoring general fund revenues to date and the current fiscal environment, the City Auditor has increased the 2021 estimate of available resources for the general operating fund by $63,022,000; and,
WHEREAS, this legislation seeks to authorize the appropriation of these additional resources within the general operating fund; and,
WHEREAS, an emergency exists in the usual daily operation of the City of Columbus in that it is immediately necessary to authorize the appropriation of additional general fund resources identified in the City Auditor’s revised estimate of available resources as published on July 23, 2021, thereby preserving the public health, peace, property, safety and welfare; now, therefore:
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS:
SECTION 1. That the sum of $63,022,000.00 be and is hereby appropriated from the unappropriated balance of the General Fund 1000, Subfund 100010 and from all monies estimated to come into said fund from any and all sources and unappropriated for any other purpose during the fiscal year ending December 31, 2021 according to the account codes attached to this ordinance.
See Attached File: Ord 2330-2021 Legislation Template.xls
SECTION 2. 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 3. That the City Auditor is authorized to make any accounting changes to revise the financial information contained herein, as is necessary to carry out the intent of this ordinance, with approval of the Department of Finance and Management.
SECTION 4. That for the 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.