HomeMy WebLinkAbout2025-11 Adopting Corrections to the 2023-25 Biennial BudgetRESOLUTION NO.2025-11
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ASHLAND, OREGON
ADOPTING CORRECTIONS TO THE 2023-25 BIENNIAL BUDGET
RECITALS:
A. The City of Ashland (City) 2023-25 Biennium Budget was adopted on June.6, 2023, for
the period of July 1, 2023, through June 30, 2025.
B. The City is authorized by ORS 294.463 to transfer appropriations from one fund to another.
C. Corrections are necessary to align the budget to accounting standards.
THE CITY OF ASHLAND HEREBY RESOLVES AS FOLLOWS:
SECTION 1.
1. The following corrections shall be made to align the budget to accounting standards:
Increase Appropriation
Increase Resource
Street Fund
Transfer Out
$2,978,031
Carry Forward Fund Balance
$2,978,031
$2,978,031
$2,978,031
Capital Improvements Fund
Transfer Out
$320,568
Carry Forward Fund Balance
$320,568
$320,568
$320,568
Water Fund
Transfer Out
$861,082
Carry Forward Fund Balance
$861,082
$861,082
$861,082
Wastewater Fund
Transfer Out
$2,235,338
Carry Forward Fund Balance
$2,235,338
$2,235,338
$2,235,338
Resolution No.2025-11 Pagel of2
Increase Resource
Decrease Resource
SDC Street Fund
Operating Transfers In
$2,978,031
Carry Forward Fund Balance
$2,978,031
$2,978,031
$2,978,031
SDC Parks Fund
Operating Transfers In
$320,568
Carry Forward Fund Balance
$320,568
$320,568
$320,568
SDC Water Fund
Operating Transfers In
$861,082
Carry Forward Fund Balance
$861,082
$861,082
$861,082
SDC Wastewater Fund
Operating Transfers In
$2,235,338
Carry Forward Fund Balance
$2,235,338
$2,235,338
$2,235,338
Four System Development Charge (SDC) funds were created for the biennium starting July 1,
2023. The carry forward amounts of the new funds (SDC funds) were budgeted by subtracting
from the carry forward amount of the funds where the SDC revenue was originally collected
(originating fund). To correctly account for the transfer of the carry forward amounts, the amount
of the carry forward must be added back to the originating fund and a transfer out must be
appropriated. The carry forward amount of the SDC funds must be reduced by the same amount
and a transfer in must be budgeted. This is an accounting correction and will not have a net effect
on the fund balance of all funds involved.
SECTION 2. This resolution is effective upon adoption.
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Alissa Kolodzinski, City Recorder
SIGNED and APPROVED this 20th day of May 2025.
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Tonya GAham, Mayor
Reviewed as to form:
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