HomeMy WebLinkAbout2008-42 Supplemental Budget 2008-2009
RESOLUTION NO. 2008- 4~
A RESOLUTION ADOPTING A SUPPLEMENTAL BUDGET ESTABLISHING
APPROPRIATIONS WITHIN THE 2008-2009 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:
Street Fund
Appropriation: Street Department - Materials and Services
Resource:
Intergovernmental Revenues
$3.251
$3251
$3.251
$3251
To recognize a $3,251 Oregon alliance for Community Traffic Safety grant received and dedicated for
the Safe Driving program and to create appropriations in the Street Fund, Public Works Department,
Street Division, Materials & Services.
Caoital Imorovement Funds
Appropriation: Public Works - Capital
Resource:
Interfund loan
$670.000
$670 000
$670.000
$670 000
To recognize an Interfund Loan of $670,000 to the Capital Improvement Fund from the Equipment
Fund and to appropriate in the Capital Improvement Fund, Public Works Department, Capital Outlay,
for a cash payment toward the Clay Street Project. This is a capital project loan that is intended to be
repaid during FY 2010-2011 with interest. The interest shall be calculated monthly using the Local
Government Investment Pool monthly rate or a 2% annualized rate, whichever is greater.
---~----_._--~_.,
Central Service Fund
Appropriation: Administration Department - Materials and Services
Resource:
Intergovernmental Revenues
$2.895
$2 895
$2.895
$2 895
To recognize a $2,895 City/County Insurance Services Worksite Wellness grant received and
dedicated for the employee health programs and to create appropriations in the Central Service Fund,
Administration Department, Materials & Services.
Insurance Fund
Appropriation: Finance Department - Materials and Services
Resource:
Ending Fund Balance
$450.000
$450 000
$450.000
$450 000
To appropriate in the Insurance Fund, Finance Department, Materials & Services an amount of
$450,000 to reimburse costs to date and subsequent expenses relating to the Mt Ashland Association
lawsuit.
Equipment Fund
Appropriation: Interfund Loan
Resource:
Ending Fund Balance
$670.000
$670000
$670.000
$670 000
To recognize an Interfund Loan of $670,000 from the Equipment Fund to the Capital Improvement
Fund. The cash loaned will come from the Equipment Fund, Ending Fund Balance. This is a capital
project loan that is intended to be repaid during FY 2010-2011 with interest. The interest shall be
calculated monthly using the Local Government Investment Pool monthly rate or 2% annualized rate,
whichever is greater.
Parks General Fund
Appropriation: Recreation Division - Materials and Services
Resource:
Charges for Services
$37.000
$37 000
$37.000
$37 000
To recognize Parks Fund program revenues of $37,000 and appropriate the payment of related
expenses in the Recreation Division, Materials & Services.
TOTAL ALL FUNDS
$1 833 146
$1 833 146
SECTION 2. All other provisions of the adopted 2008-2009 BUDGET not specifically
amended or revised in this Supplemental Budget remain in full force and effect as stated therein.
SECTION 3. This resolution was duly PASSED and ADOPTED this Z day of December,
2008: and takes effect upon signing by the Mayor.
~~
Barbara Christensen, City Recorder
SIGNED and APPROVED this~ day of December, 2008: