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TO REAUTHORIZE AND CONFIRM THE PLANNED TRANSFERS AS APPROPRIATED IN ORD-0001-2010
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WHEREAS, we have been informed by our auditors that we are required to get separate authorization from Council to transfer money between funds even though the transfers are authorized in the original appropriation ordinance; and
WHEREAS, these transfers are necessary to pay our debt, to pay our police pension obligation, to continue funding the reserve sick/vacation for future retirees, and to transfer the funds necessary to fund the resident credit portion from the income tax for the stormwater fund; and
WHEREAS, some of these transfers have been previously made and others have been partially made and this legislation will allow the balance of the transfer to take place as needed;
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF GAHANNA, STATE OF OHIO:
Section 1. That the Director of Finance is hereby reauthorized to perform the planned transfers as appropriated in ORD-0001-2010 and as listed below.
Section 2. That ONE MILLION SEVEN HUNDRED TEN THOUSAND FOUR HUNDRED NINETY SEVEN DOLLARS ($1,710,497) is hereby reauthorized for transfer from the General Fund from the following accounts to the appropriate revenue account:
Account No. 101.991.5932, Transfer to Streets $ 19,374
Account No. 101.991.5933, Transfer to General Bond Retirement $ 897,747
Account No. 101.991.5934, Transfer to Stormwater $ 60,000
Account No. 101.991.5938, Transfer to Reserve for Sick/Vacation $ 75,000
Account No. 101.211.5931, Transfer to Police Pension $ 658,376
Section 3. That FOUR HUNDRED EIGHTY ONE THOUSAND SEVEN HUNDRED SEVENTY NINE DOLLARS ($481,779) is hereby reauthorized for transfer from Account No. 220.330.5933, Transfer to General Bond Retirement in the Street Fund to the appropriate revenue account.
Section 4. That TWO HUNDRED FIFTY NINE T...
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