Title
Resolution No. 18-31, Budget Adjustments for the 2017-19 Biennium
Body
RECOMMENDED ACTION (Motion):
Move to approve Resolution No. 18-31, 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:
• Grant proceeds secured by Public Works for the Molalla Avenue Corridor project.
• Clackamas Community College cost sharing contribution for the Meyers Road extension project.
• HB 2017, Keep Oregon Moving revenues to fund an engineering project manager and capital projects in transportation.
• Water wheeling revenue from Clackamas River Water to fund projects in the Water Fund.
• Early payoff of sewer bonds for interest savings.
• Temporary backfill support and overtime in accounting for system implementation and maternity leave.
• Revenue from resolved legal matters to cover attorney costs and a park project.
• Allocation of dedicated tourism revenue to fund a Tourism Coordinator position.
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