HomeMy WebLinkAboutOrdinance 011-17Dayton Legal Blank, Inc.
Ordinance No.
RECORD OF ORDINANCES
11 -17
Form No. 30043
Passed . 20
AN ORDINANCE AMENDING THE ANNUAL
APPROPRATIONS ORDINANCE FOR THE FISCAL YEAR
ENDING DECEMBER 31, 2017
WHEREAS, the Ohio Revised Code requires, when necessary, amendments to the
annual appropriations ordinance be made in order that appropriations are not over
expended; and
WHEREAS, it is necessary to amend the annual appropriations ordinance to provide
funding in certain budget accounts; and
WHEREAS, City Council adopted a General Fund Balance Policy that stipulates that
at the end of each fiscal year, to the extent that the General Fund Balance exceeds
75% of the actual expenditures for the year, the Director of Finance will transfer
25% of the amount in excess of 75% to the Capital Improvement Tax Fund; and
WHEREAS, it is necessary to appropriate from the unencumbered balanced in the
General Fund the amount necessary to complete this transfer.
NOW, TH BEFORE, BE IT ORDAINED by the Council of the City of Dublin, State
of Ohio, of the elected members concurring, that:
Section 1. There be appropriated from the unappropriated balance in the General
Fund the amount of $1,747,693 to account 10196290- 741401 for transfer to the
Capital Improvement Tax Fund pursuant to the General Fund Balance Policy.
Section 2. This ordinr ce shall take effect and be in force in accordance with
Section 4.04(x) of the RAvised Charter.
ATTEST:
Cam— C� ��✓
Clerk of Council
2017
4
is Office of the City Manager
5200 Emerald Parkway •Dublin, OH 43017 -1090
City ot- Dublin Phone: 614 - 410 -4400 •Fax: 614 - 410 °4490 Ifilinhhh. AN&
M%;Mo
Members Council
From: Dana L. McDaniel, City Manag
,e01A1VK
January 19, 2017
Ordinance Initiated By: Angel L. Mumma, Director of Financit,
. - - Amending the Annual Appropriations for Fiscal Year Ending
December 31, 2017
A. r
#rdinance No. 11-17 amends the annual appropriations for the fiscal year ending December 31,
2017 in e General
On September 5, 2016,t City Council approved Ordinance No. 32-16,. which adopted a General Fund
Balance Policy (Policy). Section VII of the Policy stipulates the following with respect to "'Excess
fund balance":
At the end of each fiscal year, ,p;. extent : the General ' Balance . � r7596 ;
actual
of o e Capital Improvement Tax Fund. Upon «► recommendation by " Manager
City Council may elect to transfer an amount I*n excess or 2596. The use of the transferred funds
shall be consistent goals and policies of e Capital Tax
As of December 31., 2016, the City's General Fuar $56,698,774, represented
advances 85.5% of the City's General Fund expenditures (total expenditures including transfers but
excluding made to other funds). This amount is $23.56 million in excess of the 50%
required by the Policy.