Title
Resolution No. 18-21, Budget Adjustments for the 2017-19 Biennium
Body
RECOMMENDED ACTION (Motion):
Move to approve Resolution No. 18-21, A Resolution to Adopt Budget Adjustments for the 2017-19 Biennium.
BACKGROUND:
The Mayor and City Commission adopted the 2017-19 Biennial Budget with Resolution No. 17-16 on June 21, 2017. Conditions that were not known at the time the budget was prepared have occurred that require adjustments to the Adopted Budget through a City Commission resolution. Oregon Budget Law allows the City Commission to make these adjustments.
The adjustments include:
• Recognition of bond proceeds, related debt service payments and project resources for the Police and Municipal Court Building.
• Carryover of resources for the purchase of Police emergency communication radios that are partially funded through a County bond measure.
• Reallocation of cost savings on the emergency radios purchase to repair roofing and siding on the City Hall and End of the Oregon Trail buildings.
• Appropriation for contributions to the Willamette Falls Locks repair and re-opening project.
• Appropriation of funding to extend the Municipal Elevator hours of operation.
• Recognition of higher than anticipated pass-through revenue on State regulated fines.
Additional information on each adjustment is provided in the Budget Adjustment Summary.
BUDGET IMPACT:
Amount: Details included in the Budget Adjustment Summary
FY(s): 2017-19
Funding Source: Various