AN ORDINANCE AMENDING ORDINANCE 2007-22 ESTABLISHING ADMINISTRATIVE OVERHEAD COST ALLOCATIONS TO THE ELECTRIC REVENUE FUND, THE WATER REVENUE FUND, THE SEWER REVENUE FUND AND GENERAL FUND AND DECLARING AN EMERGENCY.
WHEREAS, The City Council of the City of Newton Falls established a fair and equitable method for determining administrative support services for the electric Revenue Fund, the Water Revenue Fund, the Sewer Revenue Fund and General Fund; and
WHEREAS, The Finance Director has followed the overhead cost allocation plan approved by Council to determine the allocations for 2015.
THE COUNCIL OF THE CITY OF NEWTON FALLS, STATE OF OHIO, HEREBY ORDAINS:
SECTION I: The method of determining administrative cost allocations has been approved by Council by way of a Resolution 22-2015.
SECTION II: Administrative overhead allocations will be to the following funds General Fund, Water Fund, Sewer Fund, and Electric Fund.
SECTION III: Overhead cost allocations will be based on the previous year’s statistical data, requiring an annual update of data.
SECTION IV: The percentages, which are presented in “Exhibit A” attached hereto as if
fully rewritten herein, set by this methodology are hereby approved by Council.
SECTION V: The remainder of Ordinance 2007- 22 shall remain intact.
SECTION VI: Any Ordinance or parts of ordinances in conflict with the context of this
ordinance ae hereby repealed.
SECTION VII: This Ordinance is hereby declared to be an emergency measure necessary for the immediate
preservation of the public peace, health, safety or welfare of the citizens of the City of Newton
Falls the reason for the emergency is the need to have this in effect and apply the proper
administrative overhead cost allocations to the 2016 budget prior to the end of the year.
PASSED IN COUNCIL THIS 7th DAY OF DECEMBER 2015.
Mayor, Lyle A. Waddell
City Clerk/Clerk of Council