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City of Ashland, Oregon / City Recorder / City Council Information / Packet Archives / Year 2004 / 02/17 / Supplemental Budget

Supplemental Budget

[Council Communication]  [Attachments]

Council Communication
Title: A Resolution Adopting a Supplemental Budget for FY 2003-2004.
Dept: Finance Department
Date: February 17, 2004
Submitted By: Lee Tuneberg, Finance Director
Approved By:
...........................		 Gino Grimaldi, City Administrator

Synopsis: This resolution changes the 2003-2004 Budget and keeps the City in compliance with Oregon Budget Law.
Recommendation: Staff recommends approval of the attached resolution.
Fiscal Impact: Adjusts the FY 2003-2004 budget for unforeseen events including unanticipated revenues and corresponding expenses as follows:

a. Appropriates for EMS-CERT field equipment and data base development costs (including a temporary part-time assistance) funded by grant money received beyond the budgeted amount.

b. Appropriates for airport hangar construction funded by a bank loan that related debt service in coming years will be paid by hanger rental fees.

c. Appropriates for potential park and open space acquisition funded by the sale of two parcels (North Main and Keener properties) dedicated to that program.

d. Appropriate for Forest Land Management work funded by additional grant monies received beyond the budgeted amount and increased debt service corresponding to water revenue bonds sold too late in June to readily amend the budget for 2003-04.
Background: There are three ways in which to change appropriations after the Budget is adopted.

1. A transfer of appropriations decreases an appropriation and increases another. This is the simplest budget change allowed under Oregon Budget law. This does not increase the overall budget. This is approved by a City council resolution.

2. A supplemental budget of less than 10 percent of total appropriations within an individual fund follows a process similar to the transfer of appropriations.

3. A supplemental budget in excess of 10 percent of total appropriations requires a longer process. This process includes a notice in the paper and a public hearing.

The second type of budget change is necessary and has been duly advertised and noticed. Attached is a resolution for your approval. The recommended changes in the budget are explained after each request.

Attached is the notice published in the local paper on February 11, 2004.
Attachments: • A Resolution adopting a Supplemental Budget establishing appropriations within the 2003-2004 Budget.
• Notice of Supplemental Budget

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