Item 6: PH on Resolution Adopting Supplemental Budget 1

Home Browse Search

For the General Fund, the difference between FY06 Actual and Budgeted Beginning Working Capital is $1,518,431. This amount can be divided as follows: General Fund Main Subfund $1,828,755 AIRS Replacement Subfund (235,375) Cultural Services Subfund (74,949) TOTAL $ 1,518,431 The $1.83 million in the Main Subfund is distributed as follows: $900,000 transfer to the General and Road Capital Projects Fund $505,219 department reappropriations to complete prior year authorized projects $66,444 re-budget Fire Dispatch Radio Replacement Reserve established in FY05 SB#3 $28,290 FY05 cleared drug confiscation revenue is paid to the Willamette Family Treatment Center via contractual agreement with the Planning and Development Department per council policy (Ordinance 20242) $328,802 increase to the Reserve for Revenue Shortfall Uses of General Fund Contingency There are six requests for General Fund Contingency resources totaling $297,748. The council previously approved all but one of the requests. The new request is from the Fire and Emergency Medical Services Department for $22,748 for replacement of overtime wages paid to firefighters backfilling for their peers called to service providing disaster relief in the Gulf Coast. Assuming that all the requests are approved, the balance in General Fund Contingency after this supplemental budget will be $42,252. A spreadsheet listing the contingency requests and the account balance is included as Attachment B. Reserve for Encumbrance Reconciliation This supplemental budget reconciles the estimate of unpaid purchase orders at year end (the Reserve for Encumbrance) with the actual outstanding purchase orders at the end of FY05. In the General Fund, the Reserve for Encumbrance totaled $1,149,585. The General Fund’s reconciliation of the reserve distributes $618,802 to departments to pay outstanding FY05 orders and moves the remaining $530,783 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 FY05 by the council or manager, but not completed in that fiscal year and for which a purchase order had not been issued by June 30, 2005. 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. Recognition of New Revenues These transactions recognize new or expected revenues, primarily from grants and other agencies, and increase the operating and capital budgets. In some cases, capital project support from other governments for ongoing projects is put into Balance Available because the project is currently budgeted and the fund is being reimbursed for a share of the costs incurred. In the General Fund, grant revenues L:\CMO\2005 Council Agendas\M051212\S0512126.doc