File #: 202302136    Version: 1
Type: Ordinance Status: Indefinitely Postponed
File created: 10/9/2023 In control: Budget and Finance Committee
On agenda: 10/11/2023 Final action: 10/16/2023
ORD/RES# date: ORD/RES#:
Title: ORDINANCE (EMERGENCY) submitted by Sheryl M. M. Long, City Manager, on 10/11/2023, AUTHORIZING the transfer of $5,575,948 from the unappropriated surplus of General Fund 050 to the unappropriated surplus of Working Capital Reserve Fund 754 to increase the City's working capital reserve; AUTHORIZING the transfer of $1,762,615 from the unappropriated surplus of General Fund 050 to balance sheet reserve account no. 050x2585, "Economic Downturn Reserve," to increase the City's emergency reserve; AUTHORIZING the transfer of $2,185,648 from the unappropriated surplus of General Fund 050 to balance sheet reserve account no. 050x2580, "Reserve for Weather Events, Other Emergency and One-Time Needs," to provide resources for unanticipated emergencies, including those caused by unusual weather events, to increase the City's reserve; ESTABLISHING new balance sheet reserve account no. 050x3425, "Affordable Housing," within the General Fund; AUTHORIZING the transfer of $5,000,000 from the unappro...
Sponsors: City Manager
Attachments: 1. Transmittal, 2. Ordinance, 3. Attachment A, 4. Attachment B

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ORDINANCE (EMERGENCY) submitted by Sheryl M. M. Long, City Manager, on 10/11/2023, AUTHORIZING the transfer of $5,575,948 from the unappropriated surplus of General Fund 050 to the unappropriated surplus of Working Capital Reserve Fund 754 to increase the City’s working capital reserve; AUTHORIZING the transfer of  $1,762,615 from the unappropriated surplus of General Fund 050 to balance sheet reserve account no. 050x2585, “Economic Downturn Reserve,” to increase the City’s emergency reserve; AUTHORIZING the transfer of  $2,185,648 from the unappropriated surplus of General Fund 050 to balance sheet reserve account no. 050x2580, “Reserve for Weather Events, Other Emergency and One-Time Needs,” to provide resources for unanticipated emergencies, including those caused by unusual weather events, to increase the City’s reserve; ESTABLISHING new balance sheet reserve account no. 050x3425, “Affordable Housing,” within the General Fund; AUTHORIZING the transfer of $5,000,000 from the unappropriated surplus of General Fund 050 to newly created balance sheet reserve account no. 050x3425 “Affordable Housing,” to provide a one-time contribution to the City’s Affordable Housing Trust Fund; AUTHORIZING the transfer and appropriation of  $2,000,000 from the unappropriated surplus of General Fund 050 to the City Manager’s Office personnel operating budget account no. 050x101x7500 to provide a one-time contribution to address the City’s pension obligation to the Cincinnati Retirement System; AUTHORIZING the transfer of  $500,000 from the unappropriated surplus of General Fund 050 to balance sheet reserve account no. 050x2535, “Reserve for Operating Budget Contingencies,” to provide resources for subsequent appropriation for one-time unforeseen operating needs that arise during the remainder of the ongoing fiscal year; AUTHORIZING the transfer of $150,000 from the General Fund balance sheet  reserve account no. 050x2535, “Reserve for Operating Budget Contingencies,” to the unappropriated surplus of General Fund 050; AUTHORIZING the transfer and appropriation of $150,000 from the unappropriated surplus of General Fund 050 to the various General Fund operating budget accounts according to the attached Schedule A of the General Fund Operating Budget Schedule of Appropriation to provide one-time funds for the following: the City Manager’s Office for a project to digitize records for multiple City departments ($45,000); the City Manager’s Office for detail needs at special events ($50,000); and the Department of Community and Economic Development for a tax abatement study ($55,000); AUTHORIZING the transfer and appropriation of $8,474,191 from the unappropriated surplus of General Fund 050 to new or existing capital improvement program project accounts according to the attached Schedule B of the Capital Budget Schedule of Transfer; AUTHORIZING the transfer and appropriation of $350,809 from the unappropriated surplus of Parking System Facilities Fund 102 to capital improvement program project account no. 980x248x242400, “Parking Garage Rehabilitation,” to provide resources for improvements to off-street parking garages; ESTABLISHING new capital improvement program project account no. 980x164x241624, “Industrial Site Redevelopment - GF CO,” to provide resources for industrial site redevelopment projects; AUTHORIZING the transfer of $1,600,000 from the unappropriated surplus of General Fund 050 to newly created capital improvement program project account no. 980x164x241624, “Industrial Site Redevelopment - GF CO,” to provide resources for industrial site redevelopment projects; ESTABLISHING new balance sheet reserve account no. 050x3423, “West End Community Development Initiatives,” within the General Fund; AUTHORIZING the transfer of $2,000,000 from the unappropriated surplus of General Fund 050 to newly created balance sheet reserve account no. 050x3423 “West End Community Development Initiatives,” to provide resources for various community development initiatives in the West End neighborhood; AUTHORIZING the transfer of $250,000 from the unappropriated surplus of General Fund 050 to the City Manager’s Office General Fund non-personnel operating budget account no. 050x101x0000x7289 to provide resources to Keep Cincinnati Beautiful for capital facilities improvements; and DECLARING certain projects to be for a public purpose, all for the purpose of carrying out the Capital Improvement Program.