Background:
The Budget Committee and/or Budget Sub Committee met numerous times this winter and spring and thoroughly reviewed this budget. On May 19, 2005, the Budget Committee met and approved the budget and recommended it for adoption. The Council must take the actions listed below to establish the FY 2005-06 budget.
Oregon Budget law allows the elected body to increase expenditures by $5,000 or 10% (whichever the greater) of any fund without further review and approval by the Committee. Council cannot increase the tax rate without referring the change back to the Committee for approval.
Total changes to a fund beyond 10% require re-publishing the amended budget and a second hearing to be held prior to July 1. No recommended changes exceed 10% of the approved budget.
A summary memo is provided that identifies changes made to the proposed budget to create the approved budget. Also provided is a column of Recommended Revisions staff is proposing based upon the latest review of capital projects by Public Works. In some cases the additional amounts are needed to re-appropriate for projects that are delayed from FY 2004-05 while other costs represent increased amounts for projects based upon the latest available estimates.
When projects are delayed or deferred the result is a larger ending fund balance for FY 2004-05 carrying over to FY 2005-06 resulting in no significant change to the original ending fund balance projected in the approved budget.
Enclosed within the packet are four actions requiring Council approval to complete this phase and "set" the budget for FY 2005-06:
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1. |
A Resolution certifying Ashland qualifies for State subventions. |
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2. |
A Resolution declaring the City's election to receive State subvention revenue. |
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3. |
A Resolution adopting the annual budget and making appropriations. |
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4. |
An Ordinance Levying taxes for the period July 1, 2005 - June 30, 2006. |
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