Share to Facebook Share to Twitter Bookmark and Share
Record No: CB 118527    Version: 1 Council Bill No: CB 118527
Type: Ordinance (Ord) Status: Passed
Current Controlling Legislative Body City Clerk
On agenda: 11/23/2015
Ordinance No: Ord 124921
Title: AN ORDINANCE relating to financial management practices; amending Section 5.08.020 of the Seattle Municipal Code and repealing Section 5.08.025 and Chapter 5.33 of the Seattle Municipal Code.
Sponsors: Nick Licata
Attachments: 1. Summary and Fiscal Note
Supporting documents: 1. Signed Ord 124921
CITY OF SEATTLE
ORDINANCE __________________
COUNCIL BILL __________________
title
AN ORDINANCE relating to financial management practices; amending Section 5.08.020 of the Seattle Municipal Code and repealing Section 5.08.025 and Chapter 5.33 of the Seattle Municipal Code.
body
BE IT ORDAINED BY THE CITY OF SEATTLE AS FOLLOWS:
Section 1. Section 5.08.020 of the Seattle Municipal Code, last amended by Ordinance 123361, is amended as follows:
5.08.020 Transfer between ((operating)) budget control levels ((appropriations.))
A. ((Within the operating budget of the City, t))The City Budget Director may approve only transfers of appropriations that meet all of the following criteria:
1. The appropriation was made for the same department to which the City Budget Director allows the appropriation to be transferred. For purposes of this subsection 5.08.020.A.1, a board or commission whose budget is not provided within the budget of a City department shall be deemed a department.
2. The amount of the appropriation transferred, together with all previous transfers during the same budget year to that budget ((item)) control level, does not exceed ten percent of the original budgeted allowance for the budget ((item)) control level to which the transfer is made.
3. The transfer will not result in a cumulative annual net transfer of more than $500,000 of appropriation into the budget for any one budget ((item)) control level.
4. The amount of the appropriation transferred, together with all previous transfers during the same budget year from that budget ((item)) control level, does not exceed 25 percent of the original budget allowance for the budget ((item)) control level from which the transfer is made.
5. The new purpose of the appropriation must be a legal use of that fund source, must comply with terms, conditions, and restrictions controlling the expenditure of the appropriation so tra...

Click here for full text