TITLE
AN ORDINANCE AUTHORIZING SUPPLEMENTAL APPROPRIATIONS - TIF Fund (2240) Contract Services and Bond Retirement Fund (4310) Professional Services
BODY
WHEREAS, the City has received final real estate and payment-in-lieu-of taxes; and
WHEREAS, once final settlements are received, a calculation by parcel is performed to determine the appropriate amount due to Mifflin Township and Gahanna-Jefferson Public Schools; and
WHEREAS, an administrative error was made in the 2024 Budget for the Johnstown Road TIF, necessitating a supplemental appropriation in the amount of $113,661 to meet City obligations under the Mifflin Township revenue sharing agreement; and
WHEREAS, auditor and treasurer fees for the Bond Retirement Fund came in higher than anticipated, necessitating a supplemental appropriation of $1,150.
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF GAHANNA, COUNTY OF FRANKLIN, STATE OF OHIO:
Section 1. That funding in the amount of one hundred thirteen thousand and six hundred sixty-one dollars ($113,661) is hereby supplementally appropriated from the unappropriated, unencumbered balance of the TIF Fund (2240) as follows:
224.11.100.5205 - Johnstown Road TIF Contract Services: $113,661
Section 2. That funding in the amount of one thousand one hundred fifty dollars ($1,150) is hereby supplementally appropriated from the unappropriated, unencumbered balance of the Bond Retirement Fund (4310) as follows:
431.06.000.5210 - Bond Retirement Professional Services: $1,150
Section 3. That this Ordinance shall be in full force and effect after passage by Council and on date of signature of approval by the Mayor.