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<br />Capital Project Carryover Reconciliation <br /> <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 FY07 Annual Budget. These estimates <br />have been reconciled with actual FY06 expenditures and the Capital Budget is adjusted to reflect the <br />remaining unspent balances in each project. These transactions are noted as Capital Project Carryover <br />Adjustments in Attachment A. <br /> <br />Timing <br />In some cases, expenditure authority is needed immediately to carry out Council direction or to meet <br />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 /> <br />RELATED CITY POLICIES <br />These transactions conform to the City’s financial management goals and policies. <br /> <br /> <br />COUNCIL OPTIONS <br /> <br />Particular requests requiring more information or discussion may be removed from the supplemental <br />budget and delayed for action in a future supplemental budget. In certain cases there may be a financial <br />or legal impact to delaying budget approval. The council may also adopt amended appropriation <br />amounts or funding sources for specific requests in the supplemental budget. <br /> <br /> <br />CITY MANAGER’S RECOMMENDATION <br /> <br />The City Manager recommends adoption of the attached resolution adopting the Supplemental Budget. <br /> <br /> <br />SUGGESTED MOTION <br /> <br />Move to adopt Resolution 4897 adopting a Supplemental Budget; making appropriations for the City of <br />Eugene for the Fiscal Year beginning July 1, 2006, and ending June 30, 2007. <br /> <br /> <br />ATTACHMENTS <br /> <br />A. Transaction Summary <br />B. FY07 General Fund Contingency Tracking <br />C. Resolution <br /> <br /> <br />FOR MORE INFORMATION <br /> <br />Staff Contact: Kitty Murdoch <br />Telephone: 682-5860 <br />Staff E-Mail: kitty.m.murdoch@ci.eugene.or.us <br /> L:\CMO\2006 Council Agendas\M061211\S0612115.doc <br />