Item 3: PH and Action: FY10 Supplemental Budget #1

Home Browse Search

Other grants, such as the State HB2001 Jobs & Transportation Act that provides $350,000 in support for the Pothole Program in the Road Fund and a PEP-LIFE After-School Activities grant in LRCS, are being recognized and appropriated. All grants have previously been approved by the City Council. A few new revenues from over-realized fees or new agreements with partner agencies are being recognized and appropriated. For example, the Library Recreation and Cultural Services Department (LRCS) has exceeded registration fee revenue estimates by $33,000 for its popular youth enrichment program at Amazon Community Center and is increasing the program’s expenditure authority by the same amount so that service levels may be continued this Winter and Spring. Uses of General Fund Contingency There are no contingency account requests on this supplemental budget. The balance in the contingency account remains at $90,000. Significant Capital Budget Adjustments The System Development Capital (SDC) Fund capital projects appropriation is being reduced by $1.27 million in the Transportation SDC Subfund and by $150,000 in the Parks SDC Subfund. A decline in anticipated resources to those funds resulting from the economic slowdown necessitates the budget adjustments. Non-Departmental Transactions This Supplemental Budget eliminates a $1.0 million intergovernmental payment to Lane County from the Facility Reserve in the Facilities Services Fund (615) and a $1.0 million revenue from the County Road Fund to be applied to the Road Fund budget because the County did not adopt the fund exchange. Instead, this Supplemental Budget creates a $1.0 million transfer from the Facility Reserve to the Road Fund (131). Miscellaneous Fiscal Transactions in the Community Development Fund re-budget loan program resources from grants and repayments of $720,000. Interfund transfers close out the residual resources in the Transportation Utility Fund (133) and the Road Capital Projects Fund (312) to the Transportation Capital Projects Fund (340) established in the FY10 Budget. The General Fund is also transferring contributions from partner agencies to a newly created Regional Radio Subfund in the Fleet Services Fund. Timing In some cases, expenditure authority is needed immediately to carry out council direction or to meet legal or program requirements. Approval of Supplemental Budget #1 in December allows the organization to prepare more accurate mid-year projections by having the general ledger reflect the audited balances in each fund. This, in turn, enables staff to more accurately project the Beginning Working Capital for the next year’s Proposed Budget. RELATED CITY POLICIES These transactions conform to the City’s Financial Management Goals and Policies, with the exception noted above regarding the use of the General Fund’s Marginal Beginning Working Capital, Policy B.11. COUNCIL OPTIONS Particular requests requiring more information or discussion may be removed from the supplemental budget and delayed for action in a future supplemental budget. In certain cases there may be a financial Z:\CMO\2009 Council Agendas\M091214\S0912143.doc 4