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Capital Project Carryover Reconciliation <br />The Capital Project Carryover Reconciliation occurs in this supplemental budget. An estimate of the <br />capital carryover in each pertinent fund was established in the FY05 Annual Budget and approved by the <br />council. These estimates have been reconciled with actual FY04 expenditures and the Capital Budget is <br />adjusted to reflect the remaining unspent balances in each project. These transactions are noted as <br />"Capital Project Carryover Adjustments" in Attachment A. <br /> <br />Timing <br />In some cases, expenditure authority is needed immediately to carry out City Council direction or to <br />meet legal or program requirements. Approval of Supplemental Budget #1 in December allows the <br />organization to prepare more accurate mid-year projections by having the general ledger reflect the <br />audited balances in each fund. This, in turn, enables staff to more accurately project the Beginning <br />Working Capital for the next year's Proposed Budget. <br /> <br />RELATED CITY POLICIES <br />Not applicable. <br /> <br />COUNCIL OPTIONS <br />Particular requests requiring more information or discussion may be removed from the supplemental <br />budget and delayed for action until the second supplemental budget in March. In certain cases, there <br />may be a financial or legal impact to delaying budget approval. The council may also adopt amended <br />appropriation amounts or funding sources for specific requests in the supplemental budget. <br /> <br />CITY MANAGER'S RECOMMENDATION <br />The City Manager recommends approving the attached resolution adopting the Supplemental Budget. <br /> <br />SUGGESTED MOTION <br />Move to approve Resolution 4818 adopting a Supplemental Budget; making appropriations for the City <br />of Eugene for the Fiscal Year beginning July 1, 2004 and ending June 30, 2005. <br /> <br />ATTACHMENTS <br />A. Transaction Summary <br />B. FY05 General Fund Contingency Tracking <br />C. Resolution <br /> <br />FOR MORE INFORMATION <br />Staff Contact: Kitty Murdoch <br />Telephone: 682-5860 <br />Staff E-Mail: kitty.m.murdoch~ci.eugene.or.us <br /> <br /> L:\CMO\2004 Council Agendas\M041206\S0412065.doc <br /> <br /> <br />