Title
AN ORDINANCE AUTHORIZING THE TRANSFER OF CASH FUND BALANCES AND APPROVAL OF RAINY DAY FUNDS
Body
WHEREAS, it is necessary for the preservation of the Public Health and Safety that the City of Groveport the various transfer of funds to balance the budget for the calendar year ended December 31, 2015; and
WHEREAS, Ohio Revised Code Sections 5705.14 and 5705.16 requires the affirmative vote of two-thirds of its Council members prior to any such transfer.
WHEREAS, transfers from the Rainy Day Fund will be used for revenue shortfalls and emergencies in accordance with Ordinance 12-037.
NOW THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF GROVEPORT, FRANKLIN COUNTY, OHIO, A MAJORITY OF THE MEMBERS CONCURRING:
Section 1. That the cash transfer of $1,356,959 is hereby authorized from the General Fund to the Street Fund in order to balance the Street Fund budget for the calendar year ended December 31, 2015.
Section 2. That the cash transfer of $1,355,599 is hereby authorized from the General Fund to the Recreation & Aquatic Center Fund in order to balance the Recreation & Aquatic Center Fund budget for the calendar year ended December 31, 2015.
Section 3. That the cash transfer of $465,392 is hereby authorized from the General Fund to the Golf Course Fund in order to balance the Golf Course Fund budget for the calendar year ended December 31, 2015.
Section 4. That the cash transfer of $892,087 is hereby authorized from the General Fund to the Surety Bond Fund to account for surety bond receipts received by the City originally recorded in the General Fund.
Section 5. That the cash transfer of $100,000 is hereby authorized from the Rainy Day Fund to the General Fund in order to balance the General Fund budget for the calendar year ended December 31, 2015.
Section 6. That the cash transfer of $900,000 is hereby authorized from the Rainy Day Fund to the Recreation & Aquatic Center Fund in order to provide funds for the Aquatic Center roof emergenc...
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