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Home My WebLink AboutOrdinance 047-19RECORD OF ORDINANCES BARRETT BROTHERS - DAYTON, OH10 Form 6220S Ordinance No. _ 47-19 Passed , AN ORDINANCE AMENDING THE ANNUAL APPROPRIATIONS FOR THE FISCAL YEAR ENDING DECEMBER 31, 2019 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, at the beginning of each year, it is necessary to appropriate unencumbered balances in various funds to authorize those funds for debt payments, project -related expenditures and other miscellaneous expenses; and WHEREAS, if any funding is appropriated herein to provide for transfers or advances for debt service, the debt transfer is also authorized as a part of this ordinance. NOW, THEREFORE, BE IT ORDAINED by the Council of the City of Dublin, State of Ohio, ro"*7 — of the elected members concurring, that: Section 1. There be appropriated from the unappropriated balance in the General Fund the amount of $280,000 as follows: Economic Development 10110740-751.01.0 Economic Development Incentives $ 2801000 Section 2. There be appropriated from the unappropriated balance in the State Highway Fund the amount of $12,500 to account 2.0296290-741000 for debt retirement for the Dublin Road/Glick Road Intersection Improvement project (OPWC). Section 3. There be appropriated from the unappropriated balance in the Hotel/Motel Tax Fund the total amount of $45,060. Of that amount, $700 is to be allocated to account 23240210-7.1.3005 for payment of armored car service by the Finance Department during the Dublin Irish Festival (SP019), and $44,360 to be allocated to account 23240450-713005 for implementing WiFi technical support services for the Dublin Irish Festival (SP019). Section 4. There be appropriated from the unappropriated balance in the Debt Service Fund and the associated transfer in Fund 401. The total amount of $1,655,770 is to be allocated to both Funds as follows: Riverside Crossing Park — (Series A) CML Parking Structure - (Series A & B) Transfer Expense - Principal $ 60,000 Interest $ 76,820 Principal $ 6701000 Interest $ 8481950 P&I $1,655,770 31090290-762002 31090290-763003 31090290-762004 31090290763005 40196290-741000 Section S. With regard to County Auditor deductions (fees) per the biannual real estate apportionment the following appropriations and un -appropriations be made: Bridqe Street 45710290-711001 Un -Appropriate .-County Auditor Deductions $ (58,000) Bridge Park Block C 46310290-711001 Appropriate -County Auditor Deductions $ 46,000 H2 Hotel 467.0290-711001 Appropriate —County Auditor Deductions $ 4,600 Bridge Park Block Z 46810290-711001 Appropriate —County Auditor Deductions $ 1,205.88 RECORD OF ORDINANCES BARRETT BROTHERS - DAYTON, OHIO u Or�iu� e��7-19 Passed Form 6220S Bridge Park Block A 46910290-711001 Appropriate —County Auditor Deductions $ 61558.62 BP Incentive District 47410290-711001 Appropriate —County Auditor Deductions $ 11514.77 Section 6. There be appropriated from the unappropriated balance in the following Funds the total amount of $679,002.67 for contractual obligations. Bridqe Park Block Z 46810290-719006 Appropriate —Contractual Obligations $ 83,510.73 Bridge Park Block A 46910290-719006 Appropriate — Contractual Obligations $ 572,749.42 BP Incentive District 47410290-719006 Appropriate — Contractual Obligations $ 22,742.52 Section 7. There be appropriated from the unappropriated balance in the Sewer Fund the total amount of $104,500. Of that amount, $45,000 is to be allocated to sewer debt for principal payments on the 2018 A Series, and $59,500 is to be allocated to sewer debt for interest payments on the 2018 A ies for sanitary sewer lining and repair projects. Sectio 8. This ordinance II take effect and be in force in accordance with Section 4.04( f the Dublin Revi d harter. . 0(1---t& Pa a this da of, 2019. yor — Presidyhg Officer �TTEST: �) � Clerk of Council Office of the City Manager 5200 Emerald Parkway # Dublin, OH 43017-1090 Citcetv Mom AM ot'Dubl* i Phone: 614.410.4400 * Fax: 614.410.4490 M " Avft, in 111k" IWI A1W To: Members of Dublin City Council 4,0 X From: Dana L. McDaniel, City Mana Date,w October 1, 2011 Initiated By: Matthew Stiffler, Interim Director oT Financit Melody Kennedy, Budget Manager Re: Follow-up re,. Ord,. 47-19 - Amending the Annual Appropriations for Fiscal Year Ending December 31, 2019 1. Appropriations were not included in the 2019 Operating Budget due to timing of the debt issuance. At the time the Operating Budget was compiled in 2018, the interest rates and payment amortization schedule had not been formulated for the bond issues. Timing of debt repayment can vary from one debt issue to the next, based on the structure of the debt. 2. Funding for the 2019 debt payments were included in the 2019-2023 Capital Improvements Program (CIP). The payments were planned and funding allocated, but legal authority (an appropriation) for the payments had not yet been sought. This strategy is consistent with previous years, as as the future debt planned for issuance in 2020. It has long been the City's intent to maximize TIF service payment revenue for debt funding, aI n minimize the use of Fund 401 resources from 'income tx, as appropriate. In optimizing this strateg the funding sources vary as project costs change,, project completion dates change, and adjustmen are made in funded programming in the CIP. This 'is where the strategy of Capital Improvement, Program funding and the strategy of funding the annual Operating Budget differ. a Follow-up re. Ord,, 47-19 (Amending Appropriations) October 1, 2019 Page 2 of 2 It is our goal to keep supplemental appropriations related to the Operating Budget as minimal as possible, whereas it is often necessary to re -visit appropriations for capita improvements,, economF development incentives, debt payments and issuance costs, and county auditor deductions related to TIF service payments during the course of the yeart to is recommending passage of Ordinance No. 47-19 at the second reading/public hearing on October 7, 2019. 010""Iffice of the City Manager 5200 Emerald Parkway * Dublin, OH 43017-1090 C11�1' of D'ublinPhone,: 614-410-4400 *Fax: 614-410-4490 7 Ordinance No. 47-19 amends the annual appropriations for the fiscal year ending December 31, 2019 in the General Fund and in various other funds to provide sufficient funding in certain budget accounts. A description of the appropriations contained within each section of the Ordinance are as follows: Lgot.ion Laetention Iqc.enUv.e C me Amount Comments &es Any additional incentives currently in negotiations will be forwarded to City Council in the year-end 2019 supplemental appropriation. 1i ARIZ 1110M WHO* 5gq!gn_2 requests funding authorization in the amount of $12,500 in the State Highway Fund. OPWC debt on the Dublin Road/Glick Road Improvement Project was issued in 2014 for $250,000 ,r period of 10 years. Each year $25,000 is transferred from the State Highway Fund to the Debt Retirement Fund in two payments of $12,500. During calendar year 2018, a total of $25,000 was budgeted, urdinance 47-19 - Amending the Annual Appropriations for Fiscal Year Ending December 31, 2019 September 13, 2019 however, $12,500 was transferred to retire the debt. In order to make the Debt Retirement Fund whole, an additional transfer of $12,500 is needed in 2019. iigiiiipvri� III I piiipiiip!ipq�� Imp 11 1! LIM U, Initiating Department.- Depaltment of Finance, and the Department of Parks & Recreation - Events Administration (Section 3) Sections 4 and 7 requests funding authorization for 2018 Series A and B debt retirement for the Riverside Crossing Park project, the CML Parking Structure, and the Sanitary Sewer Lining and Repair projects that were not previously budgeted in the 2019 operating budget due to timing issues. The debt originated on December 18, 2018 past the date of the 2019 Operating Budget approval. -Initiating Department: Department of Finance (Sections 4 through 7) 2 OrWinance 47-19 - Amend*Ing the Annual Appropriations for Floscal Year Ending December 31,, 2019 September 13,, 2019 Staff recommends City Council approval of Ordinance 47-19, amending the Annual Appropriations for the Fiscal Year Ending December 31, 2019, at the second reading and public hearing of the Ordinance on +""' I