HomeMy WebLinkAbout2012-33 Supplemental Budget - Repealed by 2012-31
RESOLUTION NO. 2012- 3 3
A RESOLUTION ADOPTING A SUPPLEMENTAL BUDGET ESTABLISHING
APPROPRIATIONS WITHIN THE 2012-2013 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 the following additional
appropriations:
General Fund
Appropriation: Police Department $273,963
273
Resource: Intergovernmental Revenues $273,963
23
To appropriate asset forfeiture moneys received of $227,163 for the remodel of the Police
station. To appropriate for staff time to participate in the Southern Oregon High Tech Task Force
funded by $46,800 in payments from a federal grant.
Airport Fund
Appropriation: Public Works - Material and Services $19,000
19 000
Resource: Interfund loan (revenue) $19,000
To appropriate for tree trimming at the airport, as required by the Federal Aviation
Administration. This is an interfund loan, as the airport fund currently does not have sufficient
appropriations for this requirement in addition to planned expenditures. This is an operational
loan that is intended to be repaid in FY 2013-2014. The interfund loan will be calculated
monthly using the Local Government Investment Pool Monthly rate or a 2% annualized rate,
whichever is greater.
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Debt Service Fund
Appropriation: Debt Service $645,192
$645,192
Resource: Interfund loan (revenue) $280,397
Intergovernmental revenue $364,795
4 1 2
To appropriate for the prepayment by Oregon Shakespeare Festival to pay off their portion of the
state loan for the Hargadine parking structure coordinated with an interfund loan from the
Central Service Fund to pay off the City's portion of the same loan. This pay off will provide
savings on the scheduled $301,476 in interest to be paid over the remaining 14 year life of the
loan. This is a capital financing loan and repayment will be a minimum of 10% each year plus
interest. The interest will be calculated monthly using the Local Government Investment Pool
monthly rate or a 2% annualized rate, whichever is greater. Repayment of the interfund loan will
be from parking structure revenues.
Central Service Fund
Appropriation: Interfund Loan (expense) $364,795
47 5
Resource: Ending fund balance $364,795
47
To recognize an increased ending fund balance and appropriate a loan to the Debt Service Fund
to coordinate the pay off of the state loan on the Hargadine parking structure along with the
prepayment by Oregon Shakespeare Festival of their portion to save on the 5,58% interest being
charged. This pay off will provide savings in interest to be paid over the remaining 14 year life
of the loan. This is a capital financing loan and repayment will be a minimum of 10% each year
plus interest. The interest will be calculated monthly using the Local Government Investment
Pool monthly rate or a 2% annualized rate, whichever is greater. Repayment of the interfund
loan will be from parking structure revenues.
EE uinment Fund
Appropriation: Public Works - Purchasing $113,616
Interfund Loan (expense) $19.000
132
Resource: Intergovernmental Revenues $113,616
Contingency $19,000
132
To appropriate $113,616 for the 2012 FEMA assistance for firefighters grant and $15,000 as an
interfund loan to the Airport Fund. The interfund loan will be calculated monthly using the
Local Government Investment Pool Monthly rate or a 2% annualized rate, whichever is greater.
TOTAL ALL FUNDS 435 1 43
SECTION 2. All other provisions of the adopted 2012-2013 BUDGET not specifically
amended or revised in this Supplemental Budget remain in full force and effect as stated therein.
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SECTION 3. This resolution was duly PASSED and ADOPTED this Ov day of November,
2012, and takes effect upon signing by the Mayor.
Barbara Christensen, City Recorder
SIGNED and APPROVED this.2 f-day of November, 2012:
ohn Stromberg, Mayor
Reviewed as to form:
David Lo City Attorney
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