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File #: 1599-2022    Version: 1
Type: Ordinance Status: Passed
File created: 5/27/2022 In control: Recreation & Parks Committee
On agenda: 7/11/2022 Final action: 7/14/2022
Title: To authorize and direct the City Auditor to establish an auditor’s certificate in the amount of $1,000,000.00 for the reimbursement of staff time related to the administration of Recreation and Parks 2021-2022 Capital Improvement Projects; and to authorize the expenditure of $1,000,000.00 from the Voted Recreation and Parks Bond Fund. ($1,000,000.00)
Attachments: 1. Copy of Legislation - CIP Staff Billing Cost Allocation 2021-2022 Legislation - FINAL - ATTACHMENT
Explanation

Generally Accepted Accounting Principles (GAAP) require the capitalization of costs associated with the acquisition or construction of property. The cost of a capital asset should include all charges necessary to place the asset into its intended location and conditional use, which includes internal labor. City of Columbus direct labor costs for employees who are working in the capacity of project manager or construction are eligible to be capitalized to an identified capital project.
This ordinance authorizes the establishment of an auditor’s certificate in the amount of $1,000,000.00 for the reimbursement of staff time related to the administration of Recreation and Parks 2021-2022 Capital Improvement Projects. $1,000,000.00 will be established for 2021-2022 staff time billings in accordance with the City Auditor’s internal labor capitalization policy.
Fiscal Impact: $1,000,000.00 is budgeted and available from within the Recreation and Parks Voted Bond Fund 7702 for this purpose.

Title

To authorize and direct the City Auditor to establish an auditor’s certificate in the amount of $1,000,000.00 for the reimbursement of staff time related to the administration of Recreation and Parks 2021-2022 Capital Improvement Projects; and to authorize the expenditure of $1,000,000.00 from the Voted Recreation and Parks Bond Fund. ($1,000,000.00)

Body

WHEREAS, it is necessary that the City Auditor to establish an auditor’s certificate in the amount of $1,000,000.00 for the reimbursement of staff time related to the administration of Recreation and Parks 2021-2022 Capital Improvement Projects; and

WHEREAS, funding is available for these reimbursements from and within the Voted Recreation and Parks Bond Fund; and

WHEREAS, it is to authorize the expenditure of $1,000,000.00 from the Voted Recreation and Parks Bond Fund; and

WHEREAS, it has become necessary in the usual daily operation of the Recreation and Parks Department to authorize the establishment o...

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