Title
Resolution No. 13-19, Adjustments to Fiscal Year 2012-13 Budget
Body
RECOMMENDED ACTION (Motion):
Staff recommends the City Commission approve Resolution No. 13-19, Adjustments to Fiscal Year 2012-13 Budget.
BACKGROUND:
The Mayor and City Commission adopted the Fiscal Year 2012-13 Budget with Resolution No. 12-16 on June 20, 2012. Through the course of routine operations, conditions that were not known at the time the budget was prepared have occurred that require adjustments to the Adopted Budget. The adjustments include interfund reimbursements for legal expenses incurred or to be incurred, and acceptance and appropriation of pass-through funds for the Oregon City School District, South Fork Water Board, Tri-City Service District, and county and state permitting agencies.
BUDGET IMPACT:
FY(s): 2012-13
Amount:
Increases pass-through revenues and expenses by $975,400
Increases interfund transfers by $119,000 to reimburse legal fees
Reallocates $11,000 of expenses within a fund (zero net impact to budget)
Funding Source: Pass-through revenues, interfund revenues and expenses.