Resolution No. 4779 - Laserfiche WebLink

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RESOLUTION NO. 4779 A RESOLUTION AUTHORIZING THE TRANSFER OF FUNDS FROM THE RESERVE FOR ENCUMBRANCES TO DEPARTMENTS AND TO NON-DEPARTMENTAL ACCOUNTS The City Council of the City of Eugene finds that: ORS 294.435(3) stipulates that" ...appropriations...shall, as a rninimum, contain one arnount for each organizational unit...of each fund. In addition, separate amounts shall be appropriated in each fund for debt service, special payments, interfund revenue transfers, capital outlay, operating expenses which cannot be allocated to an organizational unit...and operating contingencies." ORS 294.435(4) requires that "...no greater expenditure...ofpublic money shall be made for any specific purpose than the amount appropriated therefor except as provided in ORS . . .294.450...." The City's annual budget provides for a Reserve for Encumbrances for purchase orders outstanding on June 30, 2003. The goods and services covered by the purchase orders will be received in Fiscal Year 2004. This resolution authorizes the transfer of funds from the Reserve for Encumbrances to the respective departments holding the outstanding purchase orders and the transfer of any excess funds therein to non-departmental accounts as reflected in Exhibit "A". ORS 294.450(1) authorizes "...transfers of appropriations may be made within a given fund when authorized by an official resolution...of the governing body." ORS 294.450(3) states that "Transfers of appropriations or of appropriations and a like amount of budget resources may be made from the general fund of the municipal corporation to any other fund when authorized by an official resolution or ordinance of the governing body." The expenditures related to the transfers indicated on Exhibit "A" attached hereto, and by this reference incorporated herein, have been determined necessary for the efficient operation of the City, and should not be delayed to the next fiscal year. In order for the City to comply with ORS 294.435 (3 and 4) the transfers indicated on Exhibit "A" attached hereto, must be authorized by the Council prior to the expenditure of the funds. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF EUGENE, a Municipal Corporation of the State of Oregon, as follows: Based upon the above findings, and in accordance with ORS 294.450, the Finance and Court Services Executive Manager is authorized and directed to make the transfer of appropriations as indicated on the attached Exhibit "A" in the amounts and for the purposes stated. The foregoing resolution adopted this 27th day of October, 2003. mCU~dM~ Ci ty Recorder