Notice of Supplemental Budget

A proposed supplemental budget for the City of Ashland, Jackson County, State of Oregon, for the fiscal year July 1, 2004 to June 30, 2005 will be considered at the Civic Center, 1175 East Main Street, Ashland, Oregon as part of the City's regular business on January 4, 2005, at 7:00 p.m. A copy of the supplemental budget document may be inspected or obtained on or after December 28, 2005 at the Finance Department, 20 East Main, Ashland, Oregon 97520 between 8:00 a.m. and 5:00 p.m.

A summary of the supplemental budget is presented below.

AIRPORT FUND	Resources	Requirements
Intergovernmental Revenue	$156,000
Other Financing Sources - Interfund Loans	$200,000
Capital Outlay	-	$356,000
TOTAL	$356,000	$356,000

To appropriate in Capital Outlay for the delay of the T-Hangar project that carried over from FY 2003-04; to recognize additional monies to be received for airport improvement program work 95% funded by FAA entitlement grants beyond what was anticipated for FY 2004-05; to borrow cash from the Water Fund for operating purposes until reimbursement can be made for the grant-funded construction.

WATER FUND	Resources	Requirements
Public Works - Distribution Division	$200,000
Other Financing Sources - Interfund Loans	-	$200,000
TOTAL	$200,000	$200,000

To appropriate monies to be loaned to the Airport Fund if needed until reimbursement is received for federally funded airport improvements.  The amount loaned will be paid back with interest at the end of the project as part of the FY 2005-06 budget.

TELECOMMUNICATIONS FUND   -----	Resources	Requirements
Bond Proceeds	$500,000
Electric - Operations		$234,636
Debt Service		$208,720
Contingency	-	$56,644
TOTAL	$500,000	$500,000

To recognize additional proceeds from the August bond issue and appropriate for costs of issuance, added interest for refunding previous loans and provide additional contingency if needed.  Contigency cannot be used without further Council action.

TOTAL ALL FUNDS

$1,056,000

$1,056,000