ORDINANCE NO. _____, SERIES 2020
TITLE
AN ORDINANCE AUTHORIZING YEAR-END OPERATING BUDGET TRANSFERS BETWEEN VARIOUS AGENCIES FOR FISCAL YEAR 2019-2020 AND TO PROVIDE VARIOUS TRANSFERS AS DETAILED HEREIN.
BODY
SPONSORED BY: COUNCIL MEMBERS HOLLANDER AND KRAMER
BE IT ORDAINED BY THE LEGISLATIVE COUNCIL OF THE LOUISVILLE/ JEFFERSON COUNTY METRO GOVERNMENT (“METRO COUNCIL”) AS FOLLOWS:
SECTION I: The following year-end General Fund budget transfers are hereby authorized within the Fiscal Year 2019-2020 Operating Budget:
SECTION II: The sum of $7,611.77 is hereby transferred from the Special Revenue Fund to the General Fund related to the following amounts:
A. $7,611.77 to Office of Management & Budget
SECTION III: The sum of $443,011.76 is hereby transferred from the General Fund to the Special Revenue Fund related to the following amounts:
A. $300,923.97 to Office of Management & Budget
B. $141,394.23 to Public Health and Wellness
C. $693.56 to Office of Resilience & Community Services
SECTION IV: The sum of $77,506.07 is hereby authorized from the General Fund to the Capital Cumulative Reserve Fund as it relates to interest and surplus property sales in excess of the appropriated funding level for Fiscal Year 2019-2020:
A. Actual earned interest of $282,393.95 in Fiscal Year 2019-2020 relative to the budgeted interest of $287,500, creating a deficit of $5,106.05.
B. Actual surplus property sales of $51,560.10 in Fiscal Year 2019-2020 relative to the budgeted sales of $1,500, creating a surplus of $50,060.10.
C. Actual surplus vehicle sales of $215,739.88 in Fiscal Year 2019-2020 relative to the budgeted sales of $338,200, creating a deficit of $122,460.12.
D. The net deficit after this adjustment is $77,506.07.
SECTION V: The sum of $26,000,000 is hereby carried forward into Fiscal Year 2020-2021 for COVID-19 and general governmental needs to be appropriated upon further specific action by the Metro Council.
SECTION VI: The Metro Council has determined that the funds requested in this Ordinance will be expended for a public purpose.
SECTION VII: This Ordinance shall take effect upon its passage and approval.
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_______________________________ Sonya Harward Metro Council Clerk |
_____________________________ David James President of the Council |
|
_______________________________ Greg Fischer Mayor |
_____________________________ Approval Date |
APPROVED AS TO FORM AND LEGALITY:
Michael J. O’Connell
Jefferson County Attorney
BY: ____________________________
FILE ID# O-531-20 FY20 Year End Adjusting Ordinance-omb-mhh