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:

General Fund
Appropriation:	Other Financing Uses (Interfund Loans)	$215,000
Resource:	Contingency	$215,000
To appropriate monies to be loaned to the CDBG Fund. The amount loaned will be paid back with interest as part of the FY 2005-06 budget from the sale of the Strawberry Lane property.
-
Community Development Block Grant (CDBG)
Appropriation:	Material & Services	$215,000
Resource:	Other Financing Sources - Interfund Loan	$215,000
To appropriate to repay HUD for monies granted for the Grove. The City elected to refund the $215,000 to release the City of the HUD requirements, allowing the City to use the facility for a greater variety of uses. The resource for the purchase of the Grove will be from the sale of the Strawberry Lane property.
-
Street Fund
Appropriation:	Capital Outlay	$270,000
Resource:	Other Financing Sources - Interfund Loan	$270,000
To appropriate for the purchase of land adjacent to the intersection of Hersey and North Main. The purpose of buying this parcel is to allow flexibility when the redesign of the intersection is to be completed.
-
Wastewater Fund
Appropriation:	Other Financing Uses (Interfund Loans)	$270,000
Resource:	Public Works - Collection SDC	$270,000
To appropriate monies to be loaned to the Street Fund for Capital Outlay for the purchase of land adjacent to the intersection of Hersey and North Main. The amount loaned will be paid back with interest as part of the FY 2005-06 budget.
-
Water Fund
Appropriation:	Public Works - Water Supply	$1,000,000
Resource:	Fund Balance - Carry Forward	$1,000,000
To appropriate monies for Capital Outlay for the replacement of the main feeder line from Reeder Reservoir to the Water Treatment Plant. This project exceeded original budget amount due to the higher cost of pipe, removal of existing rock and extensive engineering costs.
-
Electric Fund
Appropriation:	Other Financing Uses - Subsidy	$200,000
Resource:	Fund Balance - Carry Forward	$200,000
For additional cash needed to meet current debt service requirements in the Telecommunication Fund including approximately $802,000 on interest July 15, 2005.
-
Telecommunication Fund
Appropriation:	Debt Service	$200,000
Resource:	Other Financing Sources - Subsidy	$200,000
For additional cash needed to meet current debt service requirements in the Telecommunication Fund including approximately $802,000 on interest July 15, 2005.

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