RESOLUTION NO. 2004-____

A RESOLUTION ADOPTING A SUPPLEMENTAL BUDGET ESTABLISHING APPROPRIATIONS WITHIN THE 2003-2004 BUDGET

Recitals:

ORS 294.480 permits the governing body of a municipal corporation to make a supplemental budget for the fiscal year for which the regular budget has been prepared under one or more of the following reasons:

000	a.	An occurrence or condition which had not been ascertained at the time of the preparation of a budget for the current year which requires a change in financial planning.
	b.	A pressing necessity which was not foreseen at the time of the preparation of the budget for the current year which requires prompt action.
	c.	Funds were made available by another unit of federal, state or local government and the availability of such funds could not have been ascertained at the time of the preparation of the budget for the current year.
	d.	Other reasons identified per the statutes.

THE CITY OF ASHLAND RESOLVES AS FOLLOWS:

SECTION 1. Because of the circumstances stated below, the Mayor and City Council of the City of Ashland determine that it is necessary to adopt a supplemental budget, establishing appropriations as follows:

Street Fund
Appropriation:	Public Works - Street Operations		$350,000
	Public Works - Transportation SDC's		$225,000
Resource:	Intergovernmental Revenue		$350,000
	Interfund Loans		$225,000

To appropriate $350,000 for capital expenditures related to jurisdictional exchange revenue funding for the Siskiyou and other projects. To appropriate $225,000 loaned from the Wastewater Fund for additional work related to a change in scheduled expenditures on the Tolman Creek and Strawberry Lane projects. Borrowing of cash will only occur if necessary and will be paid back in FY 2004-05.

Wastewater Fund
Appropriation:	Interfund Loans		$225,000
Resource:	Public Works - Treatment SDC's		$225,000

To recognize changes in capital projects and their scheduling, providing for interfund loan authority to the Street Fund if needed at year end. Lending of cash will only occur if necessary and will be paid back in FY 2004-05.

SECTION 2. This resolution takes effect upon signing by the Mayor.

This resolution was read by title only in accordance with Ashland Municipal Code Section 2.04.090 duly

PASSED and ADOPTED this ______day of ______, 2004:
Barbara Christensen, City Recorder

SIGNED and APPROVED this ______day of ______, 2004:
Alan W. DeBoer, Mayor

Reviewed as to form:
Mike Franell, Interim City Attorney