FIN-1.55 - FY 2011-12 Supplemental Budget Over-Expenditure Process

FY 2011-12 SUPPLEMENTAL BUDGET OVER-EXPENDITURE PROCESS

Binding City Policy

BCP-FIN-1.55

PURPOSE

Section 1. The Council finds:

1.  At the end of the fiscal year, some City bureaus have current or projected expenditures in excess of approved appropriations in major object codes for ongoing operations.

2.  Whenever possible, these over-expenditures shall be covered by transfers from other identified savings within bureau appropriations to avoid unnecessary draws on contingencies.

3.  To prevent over-expenditure, which would be in violation of Local Budget Law ORS 294.456, it is necessary that appropriation be transferred within various funds and appropriation units.

4.  Exhibit 1, attached, includes all incremental changes to the City appropriation schedule as a result of the Over-expenditure Process.

5.  Exhibit 2, attached, shows, for informational purposes, a reconciliation of changes to all funds.

6.  Exhibit 3, attached, shows, for informational purposes, all requests materially affecting the General Fund.

7.  Exhibit 4, attached, explains all major changes to all funds.

POLICY

NOW THEREFORE, the Council directs:

a.  The FY 2011-12 City budget is amended and appropriations transferred within funds in accordance with Exhibit 1.

b.  These changes are explained in Exhibit 4.

c.  The actions amending the FY 2011-12 budget contained in this ordinance are binding City policy.

Section 2.  The Council declares that an emergency exists because it is necessary to adjust appropriations without delay in order to prevent over expenditures in major object codes; therefore, this ordinance shall be in force and effect after its passage by Council.

Link to Exhibits 1, 2, 3 and 4 (PDF Document, 1 MB)

HISTORY

Emergency Ordinance No. 185434, passed by City Council and effective June 20, 2012.