[Council Communication]  [Attachments]

Council Communication

Title:	A Resolution Transferring Appropriations within the 2003-2004 Budget.
Dept:	Finance Department
Date:	June 29, 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. This action more appropriately recognizes the expenditure for properties as a "pass through" grant that will fall under the responsibility and ownership of Ashland Community Land Trust and will not be recognized as city property.
Recommendation:	Staff recommends approval of the attached resolution.
Fiscal Impact:	Adjusts the FY 2003-2004 budget to match anticipated expenditures. This resolution redirects the $200,000 Capital Outlay Appropriation created by a previous supplemental budget in the Community Development Block Grant Fund from Capital Outlay to Materials & Services.
Background:	There are three ways in which to change appropriations after the Budget is adopted. 000 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 first type of budget change is necessary and is the second such transfer requested for FY 2003-2004. Attached is a resolution for your approval. The recommended changes in the budget are explained after each request.
Attachments:	•   Resolution

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