Explanation
BACKGROUND: On June 15, 2022, the City Auditor published a revision to the 2022 estimate of available resources into the general operating fund. As a result of positive revenue variances in income tax and other categories, the 2022 Official Revenue Estimate was increased. This ordinance authorizes the appropriation and transfer of resources within the general operating fund.
FISCAL IMPACT: This ordinance authorizes an appropriation of $8,220,000.00 in the general operating fund.
EMERGENCY ACTION: Emergency action is requested as it is immediately necessary to adjust the general fund appropriation, and related funds, of the city to the new estimate of available resources as published by the City Auditor on June 15, 2022 in advance of the close of the third quarter.
Title
To authorize the appropriation of $8,220,000.00 within the General Fund; and to declare an emergency. ($8,220,000.00)
Body
WHEREAS, as a result of monitoring general fund revenues to date and the current fiscal environment, the City Auditor has increased the 2022 estimate of available resources for the general operating fund; 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 June 15, 2022, 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 $8,220,000.00 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, 2022 according to the account codes attached to this ordinance
See Attached File: Ord 2318-2022 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.