HomeMy WebLinkAboutCouncil Resolution 1421 Resolution No.
A RESOLUTION TO APPROVE A SUPPLEMENTAL BUDGET
FOR THE 2014/15 FISCAL YEAR
RECITALS:
A. The City of Central Point's High Tech Crime Unit (HTCU) was dissolved in the fall of 2014.
As a result, there were costs incurred that were not anticipated during 2014/15 budget
preparations. Available revenue to cover the additional expense is from the audited
carryover of$181,928; which is in excess of the budgeted carryover of$137,755.
B. Within the General Fund there are four budget amendments totaling $247,600 in
additional appropriations:
• $30,000 for insurance premiums. The City did not have the information to
anticipate the amount of increase in liability and vehicle insurance coverage
assessed by City County Insurance Services (CCIS) prior to the 2014/15 budget
adoption; therefore creating an over expenditure in the General
Fund/Interdepartmental budget.
• $18,000 for park playground equipment. Park playground equipment needs were
identified and discussed during the 2014/15 budget meetings. Purchase of this
equipment was delayed and contingent on a favorable mid-year financial report
demonstrating sufficient funding available to make the purchase.
• $15,000 for park playground equipment (budget correction only). This
appropriation was approved prior to adoption of the 2014/15 budget. This
expenditure was "added" into the proposed Parks budget by Council/Budget
Committee approval, but was inadvertently omitted in Resolution No. 1399
adopting the budget.
• $184,600 loan to Stormwater Fund. The Public Works Freeman Road capital
project costs are substantially higher than originally estimated and budgeted for
in the 2014/15 adopted budget. The project is in full progress this fiscal year and
requires a short term loan from approximately May through August 2015. The
loan will be repaid to the General Fund within the first quarter of the 2015/16
fiscal year.
C. The unanticipated increase in costs for the Freeman Road project also requires
reallocation of various budgeted projects within the Street, Water and Stormwater
funds in order to meet the obligations of the project; these reallocations are in addition
to the general fund loan referenced above. Details of the reallocations and additional
resources are presented in the following resolution.
The City of Central Point resolves:
To amend the 2014/15 budget in accordance with ORS. 294.471 and 294.473.
As such, the budget changes will appear as follows:
Section 1.
Adjusted
Appropriation Revenues Expenditures Appropriation
High Tech Crime Fund 177,755 177,755
Carryover revenue 137,755 40,000 177,755
Asset Forfeiture 5,000 40,000 45,000
Total Revised HTCU Fund $217,755 $217,755
General Fund 10,049,060 10,049,060
Carryover revenue 2,098,460 247,600 2,346,060
City Enhancement-Financing/Loans 0 184,600 184,600
Parks-Equipment 0 15,000 15,000
Parks-Equipment 15,000 18,000 33,000
Interdepartmental-Insurance 95,000 30,000 125,000
Total Revised General Fund $10,296,660 $10,296,660
Street Fund 3,390,730 3,390.730
Beebe/Hamrick project 25,000 (20,000) 5,000
Highway 99 project 80,000 (80,000) 0
Capital paving projects 150,000 (30,120) 119,880
SDC-Highway 99 project 200,000 (200,000) 0
Freeman Road project 0 130,120 130,120
SDC-Freeman Road project 0 200,000 200,000
Total Revised Street Fund $3,390,730 $3,390,730
Water Fund 4,695,660 4,695,660
RockWay/Hopkins project 100,000 (100,000) 0
Freeman Road project 0 100,000 100,000
Total Revised Water Fund $4,695,660 $4,695,660
Stormwater Fund 1,576,540 1.576.540
Loan proceeds 0 184,600 184,600
Comet Avenue project 62,000 (62,000) 0
Stormwater Quality-projects 2,500 (1,500) 1,000
Stormwater Quality-Jewett swale 50,000 (50,000) 0
SDC-Comet Avenue project 11,000 (11,000) 0
Freeman Road project 0 62,000 62,000
Freeman Road project 0 51,500 51,500
Freeman Road project 0 11,000 11,000
Freeman Road project 62,000 184,600 246,600
Total Revised Stormwater Fund $1,761,140 $1,761;140
Passed by the Council and signed by me in authentication of its passage this 28th day of May,
2015.
ti
Mayor Hank Williams
ATTEST:
f. ...i ! :it.I _
City Recorder
0