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Item 3: Resolution Adopting Supplemental Budget
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Item 3: Resolution Adopting Supplemental Budget
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6/21/2010
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<br /> <br /> <br />ECC <br />UGENE ITY OUNCIL <br />AIS <br />GENDA TEM UMMARY <br /> <br /> <br /> <br />Public Hearing: Resolution Adopting a Supplemental Budget; Making Appropriations <br />for the City of Eugene for the Fiscal Year Beginning July 1, 2009 and Ending June 30, <br />2010 <br /> <br /> <br />Meeting Date: June 21, 2010 Agenda Item Number: 3 <br />Department: Central Services Staff Contact: Mia Cariaga <br />www.eugene-or.gov Contact Telephone Number: (541) 682-5408 <br /> <br /> <br /> <br /> <br />ISSUE STATEMENT <br />This meeting is a public hearing with no action required. The council approval of the second <br />Supplemental Budget for FY10 is requested. Oregon Local Budget Law (ORS 294.480) allows for <br />supplemental budgets for "an occurrence...which had not been ascertained at the time of the preparation <br />of a budget for the current year..." This Supplemental Budget consists of $5,095,114 in proposed <br />changes to the FY10 Budget. A description of the proposed transactions is provided in Attachment A. <br />This supplemental budget does not authorize any increased property tax levy. The council is scheduled <br />to take final action on the supplemental budget on June 28, 2010. <br /> <br /> <br />BACKGROUND <br />Supplemental budgets recognize new revenue and authorize other unanticipated changes in legal <br />appropriations during a fiscal year. <br /> <br />A summary of items included in this supplemental budget is presented below. <br /> <br />General Fund <br />? <br /> <br />Reduce the Reserve for Revenue Shortfall by $900,000 and increase the interfund transfer to the <br />General Capital Projects Fund by the same amount to provide funding for facilities renovation <br />and rehabilitation projects. <br />? <br /> <br />Human Rights Summit – transfer $3,500 from the General Fund Contingency. <br />? <br /> <br />May 2010 Voters’ Pamphlet – transfer $9,100 from the General Fund Contingency. <br />? <br /> <br />Downtown Safety Initiative work crew - transfer $30,000 from the General Fund Contingency. <br />? <br /> <br />Recognize $10,400 in grant revenue associated with the Gates Opportunity Award Grant. <br />? <br /> <br />Recognize $80,000 in ODOT contract revenue from the Motor Carrier Safety Assistance <br />Program. <br />? <br /> <br />Recognize $4,000 in grant revenue from ODOT for tools and minor equipment. <br /> <br /> <br /> <br /> <br /> <br /> <br />
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