Item 5: PH on Resolution Adopting Supplemental Budget #1

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Other Significant Budget Changes ? An additional $87,710 is being moved from the General Fund’s Reserve for Revenue Shortfall to increase the Library Recreation and Cultural Services appropriation for the maintenance of Echo Hollow Pool to correct an oversight in the FY07 Budget. ? The General Fund is recognizing $226,964 received from the settlement of an asbestos claim on the old library and is transferring the same amount to the Facilities Reserve in the Facilities Services Fund. This is consistent with prior actions dedicating the proceeds from the sale of surplus property to construction of the Downtown Library, Fire Station #11, and a new City Hall. ? The Community Development Fund is appropriating $370,000 for loan to the Metropolitan th Affordable Housing Corporation for the WestTown on 8 project as approved by the City Council on October 9, 2006. The funding for the loan is coming from a $135,000 reduction to the Planning and Development Fund’s operating budget and a $235,000 transfer from the Housing Capital Projects Fund. ? The Library Local Option Levy Fund is allocating $471,248 from prior year resources and reserves to increase the operating appropriation for library technology and redesign projects begun but not completed in FY06 and to increase materials purchases and training budgets. ? The Telecom Registration/Licensing Fund is allocating $151,000 from reserves to provide the City’s match for the federal COPS grant as described in a July 13, 2006, memorandum to the City Council and is also requesting $400,000 in appropriation authority to initiate the Satellite Radio Receiver Site Upgrade needed by the COPS grant project in FY08. This upgrade was originally scheduled for FY08 but project engineers have identified multiple discrepancies that must be completed prior to system implementation to ensure compliance with modern radio practices, good engineering, public safety security and operational requirements. The COPS grant guidelines do not fund radio communication facilities and transmission tower upgrades. Significant New Capital Budget Adjustments ? Recognize a $900,000 transfer from the General Fund and increase the budget for General Fund capital projects by $900,000 to complete the capital improvement plan for public buildings and facilities approved by the Budget Committee in FY06. ? The Facilities Replacement Fund is appropriating $1.0 million to initiate Phase 3 of the City Hall Master Plan. ? The Municipal Airport Fund is requesting appropriation authority of $1.0 million to acquire two jet bridges and $4.1 million to expand air cargo facilities. The Oregon Transportation Commission approved an economic development grant to fund the expansion of air cargo facilities in July 2006. The improvements will expand the existing cargo ramp area to accommodate larger aircraft and will add a new air cargo warehouse/office building ? The capital budget for the River Avenue project is increasing by $350,000 using transportation systems development charge resources. ? The Parks and Open Space Capital Projects Fund is appropriating $275,000 of Parks and Open Space bond interest for eligible community and regional park development projects. ? The Housing Capital Projects Fund is transferring $235,000 from its capital budget to the Low th Income Housing Fund to provide supplemental funding for the WestTown on 8 project according to the plan approved by the City Council on October 9, 2006. L:\CMO\2006 Council Agendas\M061211\S0612115.doc