HomeMy WebLinkAbout2006-01 Adopting Supplemental Budget
RESOLUTION NO. 2006-01
A RESOLUTION ADOPTING A SUPPLEMENTAL BUDGET ESTABLISHING
APPROPRIATIONS WITHIN THE 2005-2006 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 ofthe
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 ofthe circumstances stated below, the Mayor and City Council
ofthe City of Ashland determine that it is necessary to adopt a
supplemental budget, establishing appropriations as follows:
Wastewater Fund
Appropriation: Transfer Out
Resource: Working Capital Carryover
$540.000
$540,000
Electric Fund
Appropriation: Transfer Out
Resource: Working Capital Carryover
$460,000
$460,000
Telecommunication Fund
Appropriation: Contingency
Resource: Transfer In
$ 1.000,000
$1,000,000
To transfer cash from the Electric and Wastewater funds to the Telecommunication Fund to meet
financial requirements including debt service.
G:lfinancelAdministrationlCouncil CommunicationVanuary 061Draft CCIRes - Suppl Bud 2006 #2 1-17-06.doc
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 17 day of January, 2006:
~~~
,
Barbara Christensen, City Recorder
SIGNED and APPROVED this 19 day of January, 2006:
Reviewed as to form:
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G:lfinance\AdministrationICouncil CommunicationVanuary 061Draft CClRes - Suppl Bud 2006 #2 1-17-06 doc