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Resolution No. 4504
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1996 No. 4474-4510
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Resolution No. 4504
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Last modified
6/10/2010 4:47:04 PM
Creation date
7/11/2006 3:25:01 PM
Metadata
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Template:
City Recorder
CMO_Document_Type
Resolutions
Document_Date
9/30/1996
Document_Number
4504
CMO_Effective_Date
9/30/1996
Author
Warren G. Wong
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<br />RESOLUTION NO. Lf{ v'f <br /> <br />RESOLUTION AUTHORIZING THE TRANSFER OF FUNDS <br />FROM THE RESERVE FOR CAPITAL PROJECTS <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 <br />each organizational unit.. .of each fund. In addition, separate amounts shall be appropriated in <br />each fund for debt service, special payments, interfund revenue transfers, capital outlay, operating <br />expenses which cannot be allocated to an organizational unit.. . and operating contingencies." <br /> <br />ORS 294.435(4) requires that "...no greater expenditure...ofpublic monexy 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 Capital Projects not completed by June 30, <br />1996. The amount in the Reserve for Capital Projects is an estimate computed on the basis of <br />work remaining to be completed on the projects by June 30, 1996. This Resolution authorizes <br />the transfer of funds from the Reserve for Capital Projects to the respective departments <br />administering the capital projects and the transfer of any excess of funds therein to Interfund <br />Transfer and Balance Available accounts, as reflected on 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... of the governing body. " <br /> <br />ORS 294.450(3) authorizes "Transfers of appropriations...from the general fund...to any other <br />fund when authorized by an official resolution.. .of the 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 <br />City, and should not be delayed to the next fiscal year. In order for the City to comply with ORS <br />294.435(3 and 4) the transfers indicated on Exhibit "A" attached hereto, must be authorized by <br />the Council prior to the expenditure of the funds. <br /> <br />NOW, THEREFORE, <br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF EUGENE, a Municipal <br />Corporation of the State of Oregon, as follows: <br />Based upon the above fmdings, and in accordance with ORS 294.450, the Financial Management <br />Services Director is authorized and directed to make the transfer of appropriations as indicated <br />on the attached Exhibit "A" in the amounts and for the purposes stated. <br /> <br />The foregoing resolution adopted this 5 0 day of ~klYl hf RJ996. <br /> <br />It'- ~ J~ <br /> <br />City Recorder <br />
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