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<br />RESOLUTION NO. 4540 <br /> <br />A RESOLUTION AUTHORIZING THE TRANSFER OF FUNDS <br />FROM THE RESERVE FOR ENCUMBRANCES TO DEPARTMENTS AND TO <br />NON-DEPARTMENTAL CONTINGENCY, RESERVE AND BALANCE AVAILABLE <br /> <br />The City Council of the City of Eugene finds that: <br /> <br />ORS 294.435(3) stipulates that "...appropriations...shall, as a minimum, contain one amount for each <br />organizational unit...of each fund. In addition, separate amounts shall be appropriated in each fund <br />for debt service, special payments, interfund revenue transfers, capital outlay, operating expenses <br />which cannot be allocated to an organizational unit...and operating contingencies." <br /> <br />ORS 294.435(4) requires that" greater expenditure...of public money shall be made for any <br />specific purpose than the amount appropriated therefor except as provided in ORS 294.450...." <br /> <br />The City's annual budget provides for a Reserve for Encumbrances for purchase orders outstanding <br />on June 30, 1997. <br /> <br />The goods and services covered by the purchase orders will be received in Fiscal Year 1997-1998. <br />This resolution authorizes the transfer of funds from the Reserve for Encumbrances to the respective <br />departments holding the outstanding purchase orders and the transfer of any excess funds therein to <br />Contingency, Reserve, or Balance Available, as reflected in Exhibit "A". <br /> <br />ORS 294.450(1) authorizes" ...transfers of appropriations may be made within a given fund when <br />authorized by an official resolution...ofthe governing body." <br /> <br />ORS 294.450(3) authorizes "Transfers of appropriations...from the general any other fund <br />when authorized by an official resolution...ofthe governing body." <br /> <br />The expenditures related to the transfers indicated on Exhibit "A" attached hereto, and by this <br />reference incorporated herein, have been determined necessary for the efficient operation of the City, <br />and should not be delayed to the next fiscal year. <br /> <br />In order for the City to comply with ORS 294.435(3 and 4) the transfers indicated on Exhibit "A" <br />attached hereto, must be authorized by the Council prior to the expenditure of the funds. <br />