FIN-1.21 - FY 2006-07 Spring Major Supplemental Budget

Binding City Policies (BCP)
Policy category
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Binding City Policy

Section 1.  The Council finds:
1.  Conditions exist, as defined by ORS 294.480, which require the City to prepare a major supplemental budget. In accordance with the provisions of ORS 294.480(6), the City submitted a proposed major supplemental budget in the amount of $7,454,331 to the Tax Supervising and Conservation Commission (TSCC) on May 31, 2007.
2.  The TSCC held a public hearing on the major supplemental budget on June 14, 2007.
3.  The City’s FY 2006-07 spring major supplemental budget must now be adopted by Council to become effective. In accordance with the attached exhibits, resources and requirements should be amended in five funds and appropriations should be made to implement the proposed projects and activities.

NOW, THEREFORE, the Council directs:
a.  The FY 2006-07 spring major supplemental budget is hereby adopted.
b.  FY 2006-07 appropriations, resources, and requirements are hereby amended in accordance with Attachment 1 and Exhibit 1 .
c.  This ordinance is binding City policy.
Section 2.  The Council declares that an emergency exists because the budget amendments must be implemented before June 30, 2007; therefore, this ordinance shall be in full force and effect from and after its passage by the Council.

Emergency Ordinance No. 181081, passed by City Council and effective June 27, 2007.

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