HomeMy Public PortalAbout029-2016 - Special - Creating New Fund - 263 - Rainy Day - MVH TransfersCOMMON COUNCIL OF THE CITY OF RICHMOND, INDIANA
ORDINANCE NO.29-2016
A SPECIAL ORDINANCE CREATING A NEW FUND (263) TO BE KNOWN AS THE
FUND 263 RAINY DAY RESTRICTED MOTOR VEHICLE HIGHWAY (MVH)
WHEREAS, In accordance with directives from the Indiana State Board of Accounts ("SBOA")
and HEA 1001-2016 (hereinafter, collectively, "SBOA mandates"), monies from the
funds known as "Motor Vehicle Highway ("MVH") Funds and "major moves fund")
are restricted to certain uses and require that the balances remain in the funds; and
WHEREAS, In accordance with said SBOA mandates, monies from said funds may be transferred
to the Rainy Day Fund if (1) monies from the funds are appropriated from their
respective funds for a Transportation Asset Management Plan; (2) the amount
appropriated is identified and directly committed within the plan (this would serve as
encumbrance of these funds from one budget year to the next); (3) the unit's rainy
day ordinance restricts these monies as committed match for the grant; and (4) the
unit's rainy day ordinance specifies that any committed unused balance at the end of
the grant is to be returned to the originating fund; and
WHEREAS, The SBOA has designated fund 263, titled "Rainy Day Restricted MVH" for cities
and towns, to ensure that the monies remain restricted and identifiable; and
WHEREAS, The City of Richmond desires to establish the new 263 fund to transfer said funds and
to encompass any additional transfers that may be authorized in accordance with
SBOA mandates.
NOW, THEREFORE, be it ordained by the Common Council of the City of Richmond, Indiana, that
the following new fund be created and established for the transfer and use of the MVH funds:
1. Rainy Day Restricted MVH — Fund Number 263
NOW, THEREFORE, be it also ordained by the Common Council of the City of Richmond, Indiana,
that said funds are restricted to the committed match of the Community Crossing grant (known also
through the SBOA as the "Local Road and Bridge Matching Grant Fund") and in the event there are
any committed unused balances at the end of the grant, said monies are to be returned to the
originating fund.
Passed and adopted this 00_ day oQ2016, by the Common Council of the
City of Richmond, Indiana.
i
President
(Bruce Wissel)
ATTE
(Karen Chasteen, IAMC, MMC)
PRESENTED to the Mayor of the City of Richmond, Indiana, thiui-� day o , 2016,
at 9:00 a.m.
(Karen Chasteen, IAMC, MMC)
APPROVED by me, David M. Snow, Mayor of the City of Richmond, Indiana, this Z Z- day of
"Sy6 , 2016, at 9:05 a.m.
� c or
avid M. Snovt
ATTE
'JEaren Chasteen, IAMC, MMC)