FIN-1.29 - FY 2007-08 Spring Major Supplemental Budget

FY 2007-08 SPRING MAJOR SUPPLEMENTAL BUDGET

Binding City Policy

BCP-FIN-1.29

PURPOSE

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 to the Tax Supervising and Conservation Commission (TSCC) on May 29, 2008.

2.  The TSCC held a public hearing on the proposed major supplemental budget on June 25, 2008.

3.  The City's FY 2007-08 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 four funds and appropriations should be made to implement the proposed projects and activities.

POLICY

NOW, THEREFORE, the Council directs:

a.  The FY 2007-08 spring major supplemental budget is hereby adopted.

b.  FY 2007-08 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 amendments to appropriations, resources, and requirements must be implemented without delay; therefore, this ordinance shall be in full force and effect from and after its passage by the Council.

HISTORY

Emergency Ordinance No. 181981, passed by City Council and effective June 26, 2008.