Item 5 - COE/Supp.Budget 1 - Laserfiche WebLink

Home Browse Search

For the General Fund, the difference between FY05 Actual and Budgeted Beginning Working Capital is $8,023,613. This amount can be divided as follows: General Fund -- Main Subfund $7,784,261 AIRS Replacement Subfund 422,216 Cultural Services Subfund (182,864) TOTAL $8,023,613 The $7.78 million in the Main Subfund is appropriated as follows: $900,000 transfer to the General and Road Capital Projects Fund $680,000 transfer to the Facilities and Fleet Services Fund for purchase and replacement of General Fund vehicles $996,157 departmental reappropriations $65,000 one-time funding request for the Police Department to purchase an electronic filing system $122,214 drug confiscation revenue is paid to the Willamette Family Treatment Center via contractual agreement with the Planning and Development Department $1,026,758 transfer to the Risk Management Fund to increase Balance Available (an additional $702,000 from new revenue, and $111,242 from the excess Reserve for Encumbrance makes the total transfer to Risk equal $1,840,000) $3,994,132 in previously deferred Qwest revenue is recognized and placed in the Reserve for Revenue Shortfall (and in subsequent action transferred to the Facility Reserve following Council policy established on November 22, 2004) Uses of General Fund Contingency There are five uses of General Fund Contingency resources totaling $228,000. All have been previously approved by the City Council. The balance in General Fund Contingency after this supplemental budget will be $112,000. A spreadsheet listing the contingency requests and the account balance is included as Attachment B. Reserve for Encumbrance Reconciliation In past years, the reconciliation of this reserve occurred by City Council resolution in October. For efficiency, staff has changed this practice and moved the reconciling budget actions to the first supplemental budget. In the General Fund, the Reserve for Encumbrance, established in the FY05 budget for obligations incurred but not paid in FY04, totaled $1,353,739. The General Fund's reconciliation of the reserve distributes $1,061,424 to departments to pay outstanding FY04 orders and moves $111,242 of the residual amount to the Risk Fund, and the remaining $181,073 to the Reserve for Revenue Shortfall. The attached Transaction Summary (Attachment A) lists the adjustments made in each fund for this reconciliation. Reappropriations Reappropriation transactions recognize appropriations for programs initiated or projects authorized in FY04 by the City Council or City Manager, but not completed in that fiscal year and for which a purchase order had not been issued by June 30, 2004. The resource for most of these transactions is the Beginning Working Capital adjustment in the General Fund and Balance Available or Reserves in the Non-General Funds. L:\CMO\2004 Council Agendas\M041206\S0412065.doc