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FIN-4.04 - Fund Management (June 2006)

FIN-4.04 - Fund Management (June 2006)
Binding City Policy

The Council finds:
1. In September 2003 Council passed Ordinance # 177852, which merged the Bureau of Information Technology and the Bureau of Communications and Networking and established the Bureau of Technology Services.

2. Since this merger, some activities of the Bureau of Technology Services have been accounted for in the Technology Services Fund, and other activities have been accounted for in the Communications Services Operating Fund.

3. It is desirable to make the accounting and budgeting structures reflect the current organizational structure. The best way to accomplish this is by closing the Communications Services Operating Fund and transferring all balance sheet accounts to the Technology Services Fund, effective June 30, 2006.

NOW, THEREFORE, the Council directs:
a. Effective June 30, 2006, the Communications Services Operating Fund (Fund 707/ AUs 358, 360, 361, 362, and 446) will be closed and all balance sheet accounts will be transferred to the Technology Services Fund (Fund 711/ AU 550).
The Council declares that an emergency exists because it is necessary to close the fund and transfer accounts before the end of the fiscal year in order to properly prepare financial statements for the year ending June 30, 2006; therefore this ordinance shall be in full force and effect from and after June 30, 2006.

Ordinance No. 180255 passed by Council June 22, 2006 and effective June 30, 2006.