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AN ORDINANCE AUTHORIZING A SUPPLEMENTAL APPROPRIATION
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WHEREAS, in 2020, the City was required to adopt GASB statement number 84 which clarifies what funds may be classified as Custodial Funds; and
WHEREAS, with the adoption of this new GASB standard, a supplemental appropriation is requested to establish a budget amount for 2021 in accordance with guidance issued by the State Auditor.
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF GAHANNA, COUNTY OF FRANKLIN, STATE OF OHIO:
Section 1. That an amount of FOUR HUNDRED TEN THOUSAND DOLLARS AND ZERO CENTS ($410,000.00) be and is hereby supplementally appropriated to the following accounts:
838.08.000.5205 - Recreation Scholarship Contract Services - $10,000
860.11.000.5205 - Developers Escrow Contract Services - $250,000
860.11.450.5205 - Developers ROW Escrow - $150,000
Section 2. That this Ordinance shall be in full force and effect after passage by Council and on date of signature approval by the Mayor.