HomeMy WebLinkAboutCouncil Resolutions 1820 RESOLUTION NO.
A RESOLUTION OF THE CITY OF CENTRAL POINT
APPROVING A 2023-25 SUPPLEMENTAL BUDGET
Recitals:
A. Pursuant to ORS 294.463, Oregon Municipalities can transfer appropriation between
existing categories during the budget period and pursuant to ORS 294.471 and
294.473, Oregon Municipalities can make one or more supplemental budgets.
B. The property and liability insurance premiums through City/County Insurance
Services (CIS) were higher than the budgeted annual increases of 15%. Also, there
were a few property claims that were paid out as well as worker's compensation
claims that were paid. This has created an over expended budget in the
Interdepartmental section of the General Fund. A transfer of appropriation of
$60,000 from contingency to the insurance line item is proposed.
C. With the switch in reporting basis from accrual to modified cash basis as well as the
timing of the completion of projects that were going to be partially funded through
the Central Point Development Commission the reimbursement will be done in this
budget period where it was originally budgeted to occur in the 2021-23 budget
period. Therefore, grant revenue and capital outlay expenditure increase of
$450,000 is proposed in the General Fund.
D. The reconciliation of cost for projects along the Bear Creek Greenway damaged as
a result of the Almeda Fire in September of 2020 has been completed by staff and
FEMA representatives. The final project to be completed and reconciled was the
replacement of the Elk Creek culvert. The total cost of the project, including
engineering, was $514,150.81. The cost share for this project is 90%
reimbursement from FEMA. Original amounts budgeted for reimbursement was
$270,000 therefore, grant revenue and capital outlay expenditure increase of
$192,736 is proposed.
The City of Central Point resolves as follows:
Section 1.
Adjusted
Budget Revenues Expenses Budget
General Fund $ 28,333,690 $ 28,333,690
State/Local Grants $ - $ 450,000 $ 450,000
Capital Outlay - Parks $ 223,000 $ 450,000 P'$ 673,000
Materials & Svcs. - Interdepart $ 463,000 $ 60,000 $ 463,000
Contingency $ 180,000 $ (60,000) $ 120,000
General Fund - Revised $ 28,783,690 $ 28,783,690
Stormwater Fund $ 3,568,340 $ 3,568,340
Federal Grants $ 270,000 $ 192,736 $ 462,736
Capital Outlay $ 840,000 $ 192,736 $ 1,032,736
Stormwater Fund - Revised $ 3,761,076 $ 3,761,076
Passed by the Council and signed by me in authentication of its passage this 27th day of
March 025.
/2-
Vv //llJJ. i
li r
Ma or Taneea Br caning _.
ATTEST
'-'1 GiC 'L.t K k-----------
Rachel Neuenschwander, Recorder