HomeMy WebLinkAbout2006-18 Adopt Supplemental Budget
RESOLUTION NO. 2006-18
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 ofthe 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:
Cemetery Fund
Appropriation: Transfer Out
Resource: Working Capital Carryover
Interest on Investment
$16.960
$ 8,468
8,492
To recognize higher interest earned in the Cemetery Trust Fund in FY 04-05 and 05-06 than
budgeted, the City of Ashland's accounting practices require interest earned to be transferred to
the General Fund for cemetery operations.
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
G:\finance\Administration\Council Communication\Budget, transfers, supplementals\2005-06\Res - Suppl Bud 2006 - #4.doc
~ASSa:::;S
Barbara Christensen, City Recorder
~<6 day of June, 2006:
SIGNED and APPROVED this ~q day of June, 2006:
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Reviewed as to form:
G:\finance\Administration\Council Communication\Budget, transfers, supplementals\2005-06\Res - Suppl Bud 2006 _ #4.doc