Title
Resolution No. 15-27, Adjustments to the 2015-17 Biennial Budget
Body
RECOMMENDED ACTION (Motion):
Move to approve Resolution No. 15-27, a resolution to adopt a supplemental budget for the 2015-17 biennium.
BACKGROUND:
The Mayor and City Commission adopted the 2015-17 Biennial Budget with Resolution No. 15-19 on June 17, 2015. Conditions that were not known at the time the budget was prepared have occurred that require adjustments to the Adopted Budget through a supplemental budget. Oregon Budget Law requires a public hearing when a supplemental budget changes expenditures within a fund by more than 10%, which is the case with this adjustment.
Revenues were significantly higher than anticipated last year due to increased development activity, and the trend is expected to continue. In addition, expenditures were lower because of staffing changes. This budget adjustment recognizes additional beginning fund balance from the prior year. The resources will be used to hire a Senior Building Inspector (Electrical) to support renewed building activity in the City. The position will bring operational efficiencies and allow the City to provide full service inspections (currently, electrical inspections are performed by the County). The change will also allow the City to perform regional inspection work, if capacity is available, furthering the City's position as a regional leader in accordance with the City Commission's Vision Statement.
BUDGET IMPACT:
Amount: $276,000
FY(s): 2015-17
Funding Source: Building inspection revenue