CITY of ALBUQUERQUE
TWENTY SEVENTH COUNCIL
COUNCIL BILL NO. C/S O-26-03 ENACTMENT NO. ________________________
SPONSORED BY: Joaqu?n Baca, Nichole Rogers, Dan Champine, Brook Bassan
ORDINANCE
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C/S Amending Chapter 2, Article 11 Of The Revised Ordinances Of Albuquerque, New Mexico (ROA 1994), To Add A New Section Regulating Indirect Overhead (IDOH) Charges To Capital Funds Establishing An IDOH Rate Calculation; Requiring Reporting And Transparency; And Aligning Eligible Uses With Capital Delivery Standards (Baca, Rogers, Champine, Bassan)
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AMENDING CHAPTER 2, ARTICLE 11 OF THE REVISED ORDINANCES OF ALBUQUERQUE, NEW MEXICO (ROA 1994), TO ADD A NEW SECTION REGULATING INDIRECT OVERHEAD (IDOH) CHARGES TO CAPITAL FUNDS ESTABLISHING AN IDOH RATE CALCULATION; REQUIRING REPORTING AND TRANSPARENCY; AND ALIGNING ELIGIBLE USES WITH CAPITAL DELIVERY STANDARDS.
WHEREAS, the Capital Implementation Program Division (CIP) of the Department of Municipal Development (DMD), including certain fiscal agents in the Fiscal Division of DMD, administers the planning, adoption and implementation of voter-approved General Obligation Bonds (GO Bonds) and other capital sources; and
WHEREAS, to offset administrative and project management costs, the City of Albuquerque (City) assesses an Indirect Overhead (IDOH) rate to GO Bonds and other capital funds; and
WHEREAS, General Obligation Bonds are Tax-exempt municipal bonds subject to federal and state guidelines; and
WHEREAS, Federal guidelines disallow the use of GO Bond funds for general operating or maintenance costs; and
WHEREAS, the purpose of IDOH is to recover actual, allowable indirect costs that support capital project delivery, but not to subsidize general city government departmental administration, maintenance or operational expenses; and
WHEREAS, the City Council seeks to formalize the process for calculating, assessing, and reporting IDOH to ensure appropriate use of capital f...
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