HomeMy WebLinkAboutDevelopment Commission Resolution 2020-02 RESOLUTION NO. 2020-02
A RESOLUTION OF THE CENTRAL POINT DEVELOPMENT COMMISSION
APPROVING A TRANSFER OF APPROPRIATIONS
Recitals:
A. ORS 294.463 (1) allows that transfers of appropriations may be made within in a fund
when authorized by ordinance or resolution of the governing body. The ordinance or
resolution must state the need for the transfer, the purpose for the authorized
expenditure, and the amount transferred.
B. During the fiscal year 2020-21 budget adoption process at the June 11, 2020
Commission meeting, the Board was made aware of an emergency small business
assistance grant program through Business Oregon. After some discussion staff was
directed by the Board to apply for the grant and that $50,000 contingency could be used
as matching funds if the grant application was approved by Business Oregon.
C. On July 23rd, staff received a notice of award letter from Business Oregon stating that
the grant proposal was approved. Contingency funds will be transferred to the Materials
& Services category to make a $50,000 grant to the City as matching funds for the
emergency small business assistance grant program which will be reimbursed through
CARES Act funding.
The Central Point Development Commission resolves as follows:
Section 1.
Adjusted
Appropriation Revenues Expenses Appropriation
General Fund $ 1,175,400 $ 1,175,400
Materials & Services $ 57,150 $ 50,000 $ 107,150
Contingency $ 50,000 $ (50,000) $ -
General Fund - Revised $ 1,175,400 $ 1,175,400
Passed by the Council and signed by me in authentication of its passage this 13th day of
August 2020.
Hank Williams, Chair
Central Point Development Commission
ATTEST
Deanna Casey, Recor• - C