Ordinance No. 10-2012
AN ORDINANCE TO AMEND ORDINANCE NO. 37-2011 PROVIDING FOR ADJUSTMENTS OF THE ANNUAL BUDGET FOR THE FISCAL YEAR 2012 AND REVISING SUMS FOR OPERATING EXPENSES
WHEREAS, pursuant to the provisions of Section 2.08 of Article II of the Charter of the Village of Granville, Ohio, the Village Council is authorized to adopt the municipal budget for the fiscal year beginning January 1, 2012 and ending December 31, 2012, and;
WHEREAS, the Village of Granville has identified capital projects to be funded from the Capital Project Reserve Fund during the year 2012, including the pay off of the Bryn Du Acquisition Notes and;
WHEREAS, adjustments to the annual appropriation ordinance are necessary to account for the additional capital expenditures and note payoff as follows:
a. Capital Project Reserve Fund - $173,975.00 for Capital Outlay
b. Capital Project Reserve Fund - $362,052.00 for Transfers
NOW, THEREFORE, be it ordained by the Council of Granville, Ohio that:
Section I: The annual budget of the Village of Granville, as established by Ordinance No.37-2011, shall be amended by the Council, as recommended by the Manager, and is hereby adopted.
Section II: This Ordinance provides for capital expenditures during the fiscal year ending December 31, 2012 with the following additional appropriations hereby made to the Capital Project Reserve Fund:
Account Description Additional Appropriation
A8-6-B-250 Capital Outlay $173,975.00
Capital Project Reserve Fund
A8-6-B-270 Transfers $362,052.00
Capital Project Reserve Fund - Transfer to Bryn Du Fund
Section III: This ordinance shall take effect and be in full force upon the earliest date allowed by law.
Passed this 18th day of July, 2012.