ORD 40092 - Amendments to home rule charter to increase cash reserve ORDINANCE NO. (1
AN ORDINANCE proposing amendments to Sections 5.03, 5.05, and 5.07 of the Home Rule
Charter of the City of Omaha, 1956, as amended, to allovv for an increase in the size of
the Cash Reserve Fund and to make other minor updates to ARTICLE V. FINANCE of
the Charter; to provide for the submission of the proposed amendment to the qualified
electors of the City of Omaha for their approval or rejection at the General Election to be
held on November 4, 2014; to repeal Sections 5.03, 5.05, and 5.07 of the Home Rule
Charter of the City of Omaha as heretofore existing; and to provide the effective date
hereof.
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF OMAHA:
Section 1. That there be, and hereby is, submitted to the qualified electors of the City of
Omaha at the General Election to be held on November 4, 2014, for their approval or rejection, a
proposal to amend Sections 5.03, 5.05, and 5.07 of the Home Rule Charter, 1956, as amended, to
provide that such sections shall be amended to read as follows:
"Section 5.03. Fund Structure.
In this charter the word "fund" shall mean "a sum of money or other resources that is segregated
for the purpose of carrying on specific activities or attaining certain objectives in accordance
with special regulations, restrictions, or limitations, and that constitutes an independent fiscal and
accounting entity." If and as needed, the following types of funds shall be established for the
purposes and types of operations with which identified:
(1) A single "General Fund" shall be established to account for all revenues and the activities
financed by them which are not accounted for in some special fund.
(2) "Special Revenue Funds" shall be established to account for taxes and other revenues,
except special assessments, set aside for a particular purpose.
ORDINANCE NO. 110 9L
Page 2
(3) "Internal Service Funds" shall be established to account for the financing of activities
carried on by one department or division for other departments and agencies of the city
government and may be established for the control of inventories.
(4) "Special Assessment Funds" shall be established to account for special assessments
levied to finance improvements or services deemed to benefit the properties against which the
assessments are levied.
(5) "Capital Project Funds" shall be established to account for the receipt and disbursement
of proceeds of bond issues, tax increment financing receipts and other financing services, except
for those payable from special assessment, utility, and enterprise funds.
(6) "Debt Service Funds" shall be established to account for the accumulation of resources
for retiring bonds, including any administrative costs related thereto; such as, publication of
notice, trustee, registrar, and paying agent fees.
(7) "Fiduciary Funds" shall be established to account for cash or other assets held by the city
as trustee, custodian, or agent.
(8) "Proprietary Funds" shall be established to account for the financing of services rendered
primarily to the general public for compensation where the intent is that the operation shall be
self-supporting.
(9) "Advance Acquisition Fund." There shall be established a Capital Project Fund to be
known as the Advance Acquisition Fund, the purpose of which shall be to facilitate the orderly
and timely acquisition of real estate for public purposes. Moneys in the fund may be used to
option, purchase, make down payments, and take other actions necessary to acquire real estate
for specific public purposes related to the development of the City as proposed in the master
plan. No purchase of any real estate or any substantial expenditure in connection therewith shall
be made unless reviewed and reported on by the Capital Improvement Priority Committee and
approved by the Council. Any real estate purchased or otherwise acquired by the City through
the workings of this fund may later be sold or otherwise disposed of by the City if it is found that
such real estate is not needed for a public purpose.
(10) "Cash Reserve Fund." There shall be established a reserve fund for the purpose of
meeting emergencies arising from:
(a) The loss or partial loss of a revenue source; or
(b) An unanticipated expenditure demand due to a natural disaster, casualty loss or
act of God; or
(c) Expenditure demand for the satisfaction of judgments and litigation expenses
when the Judgment Levy Fund balance is inadequate.
(d) Conditions wherein serious loss of life, health or property is threatened or has
occurred.
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The amount of funds to be held in this account, if any, shall not exceed 4-% 8% of General
Appropriations. Interest earned on any such amount shall be retained in said account and shall be
included in the calculation of the fund balance. In the event that the fund has reached the /I% 8%
maximum balance, then any interest accruing thereafter, until the balance is decreased by an
expenditure, shall be transferred to the General Fund. Notwithstanding section 5.14 of the home
rule charter, or any other provision to the contrary, any amount, or portion thereof, held as
general fund surplus at the close of any fiscal year may be appropriated for the sole and limited
purpose of increasing the balance of this reserve fund; provided, however, that some shall not be
used to increase the balance beyond the 4% 8% limitation stated herein.
(11) Reserved.
Section 5.05. Scope and Content of the Budget.
The annual budget shall be a complete financial plan for the ensuing budget year and shall
consist of an operating budget and a capital budget. The capital budget shall provide for
acquisition of real estate, physical improvements, equipment and furniture required in connection
with physical improvement projects, and equipment with a probable useful life of fifteen or more
years; and the operating budget shall provide for all other classes of expenditure. The budget
submitted by the Mayor to the Council shall contain at least the following:
(1) A budget message in which the Mayor shall discuss the city's financial condition and
prospects, explain both in terms of money and work programs the important features of the
operating budget, identify major projects in the capital budget, and outline the financial policies
the Mayor proposes for the ensuing budget year.
(2) Appropriate statements showing for each fund the estimated transactions and balances for
the ensuing budget year and comparative data for the current and immediately past budget years.
(3) Schedules of all estimated revenues itemized by sources for the ensuing budget year and
comparative data for the current and immediately past budget years. Revenue estimates for the
general and special revenue funds shall include only those revenues expected to be received in
cash during the budget year concerned.
(4) Operating budget schedules showing by activity or program the proposed operating
expenditures for the ensuing budget year, and in a column entitled "Appropriations," the lump
sum recommended for appropriation, which lump sums need not be itemized further than by
departments, divisions, and major activities and programs. Comparative expenditure data for the
current and immediately past budget years and information on work programs and volumes shall
also be presented.
ORDINANCE NO. / '' /'Z `
Page 4
(5) Capital budget schedules showing the total amount proposed for expenditure en each
capital project during the ensuing budget year and a complete analysis of the sources of funds by
projects showing balances available and amounts to be appropriated, borrowed, or derived from
other sources.
Section 5.07. Tax Levy.
The Council, on the basis of the budget as finally adopted, shall certify by adopting an
appropriate resolution a single City of Omaha tax levy for the ensuing fiscal year, which single
tax levy shall be sufficient so that total year end fund balances are greater than or equal to zero
anticipated revenues plus receipts from authorized borrowing will at least equal total proposed
expenditures. The single City of Omaha tax levy certified in any year shall not exceed $.6125 per
$100 of actual taxable value plus whatever tax levy is necessary to provide for principal and
interest payments on the indebtedness of the city, and for the administrative expenses incurred in
issuing and maintaining bonds, and for the satisfaction of judgments and litigation expenses in
connection therewith."
Section 2. The ballot for said proposed amendment shall be submitted to the qualified
electors of the City of Omaha in substantially the following form:
"OFFICIAL BALLOT
GENERAL ELECTION
HELD NOVEMBER 4, 2014
CHARTER AMENDMENT
SHALL SECTIONS 5.03, 5.05, AND 5.07 OF THE HOME RULE CHARTER OF THE CITY
OF OMAHA BE AMENDED TO ALLOW FOR AN INCREASE IN THE SIZE OF THE
CASH RESERVE FUND AND TO MAKE OTHER MINOR UPDATES TO ARTICLE V.
FINANCE OF THE CHARTER, ALL AS PROVIDED IN THE NOTICE OF ELECTION?
YES
NO"
Section 3. Under said question and proposition on the ballot shall be printed the word
ORDINANCE NO. dkt,}t
Page 5
"Yes" and the word "No". All ballots of qualified electors cast at the aforesaid election with an
"X" or other clear or intelligible mark placed before the word "Yes" shall be understood to be,
and shall be counted, in favor of the proposition set forth in said question, and all ballots of
qualified electors cast at the aforesaid election with an "X" or other clear or intelligible mark
placed before the word "No" shall be understood to be, and shall be counted, against the
proposition set forth in said question.
Section 4. That said ballots shall be white in color and printed in black ink or other color
designated in conformance with Section 32-806 of the Revised Statutes of Nebraska, 1943, as
amended.
Section 5. The officer having charge of General and Special Elections of the City of
Omaha shall conduct the election in all respects the same as other City elections and in the
manner provided by law.
Section 6. The City Clerk is hereby directed to transmit a certified copy of this
Ordinance to the Election Commissioner of Douglas County, Nebraska, and to give public notice
to the electors, as provided by law.
Section 7. If said proposition is approved by the electors, then Sections 5.03, 5.05, and
5.07 of the Home Rule Charter of the City of Omaha, as heretofore existing, shall be repealed.
Section 8. This Ordinance is declared to be administrative and not legislative in character
and, therefore, under the provisions of Section 2.12 of the Home Rule Charter of the City of
Omaha, 1956, as amended, and Rule 7 of the Rules adopted by the City Council of the City of
Omaha, it shall become effective from and after its adoption.
ORDINANCE NO. gt.V:i7_.
Page 6
INTRODUCED BY COUNCILMEMBER
/1404tvei& APPROVED BY:
PASSED AUG 1 9 2014 7r G' MAYOR OF THE CITY OF OMAHA A
ATTEST:
CIT CLERK OF T CITY OF OMAHA
APPROVED AS TO FORM:
7121/
DEPUTY CITY ATTORNEY DAT
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