RESOLUTION NO. 2005-____

A RESOLUTION ADOPTING A SUPPLEMENTAL BUDGET ESTABLISHING APPROPRIATIONS WITHIN THE 2004-2005 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:

	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:

Airport Fund
Appropriation:	Capital Outlay	$356,000
Resource:	Intergovernmental Revenue	$156,000
Other Financing Sources	Other Financing Sources	$200,000

To appropriate in Capital Outlay for the delay of the T-Hanger 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
Appropriation:	Other Financing Uses (Interfund Loans)	$200,000
Resource:	Public Works - Distribution Division	$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
Appropriation:	Electric Operations	$234,636
	Debt Service	$208,720
	Contingency	$ 56,644
Resource:	Bond Proceeds	$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. Contingency cannot be used without further Council action.

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 _______, 2005:

Barbara Christensen, City Recorder

SIGNED and APPROVED this ____ day of _______, 2005:
John W. Morrison, Mayor

Reviewed as to form:
Michael W. Franell, City Attorney