Item 4 - Adoption of FY13 COE Supplemental Budget

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dispatching and reimbursable overtime charges, and Police charges to the Oregon Department of Transportation (ODOT). Operating budget appropriations for the departments receiving these revenues are being increased by the same amount. City Council Contingency This Supplemental Budget includes a recommendation to use $20,000 out of $47,000 in the City Council Contingency account to cover the costs associated with the November 2012 general election voters' pamphlet. Capital Carryover The Capital Project Carryover Reconciliation is also included in this Supplemental Budget. An estimate of the unspent balance in each capital project was established in the FY13 Adopted Budget. These estimates have been reconciled with the actual FY12 expenditures, and the Capital Budget is adjusted to reflect the remaining unspent balances in each project. The Capital Carryover on this Supplemental Budget reduces the Capital Budget by $12,687,838 and increases Balance Available by the same amount. Recognition of New Revenues There are transactions on this Supplemental Budget that recognize new revenues, primarily from grants and other governmental agencies, and increase the operating, capital and non- departmental budgets. In some cases, capital project support from other governments for ongoing projects is put into Balance Available because the project is currently budgeted, and the fund is being reimbursed for a share of the costs already appropriated or incurred. Grants that are received over a period of more than one fiscal year have their appropriation balances and revenues re-budgeted in the current fiscal year. Non-General Fund Transactions This Supplemental Budget recognizes approximately $12.1 million in non-general fund transactions, other than MBWC, encumbrances and capital carryover reconciliation. Most of this total is reflected in recognizing and re-budgeting $10 million in grants and other agency revenue. This Supplemental Budget also includes non-general fund reappropriations for projects not completed in the prior fiscal year. Other non-general fund transactions are described in Attachment A. Timing In some cases, expenditure authority is needed immediately to carry out City Council direction or to meet legal or program requirements. Approval of SB1 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 fiscal year’s Proposed Budget. RELATED CITY POLICIES These transactions conform to the City’s Financial Management Goals and Policies. S:\CMO\2012 Council Agendas\M121210\S1212104.doc