FY 2004-05 SPRING MINOR SUPPLEMENTAL BUDGET
Binding City Policy
The Council finds:
1. The City Council has received a memorandum from the Financial Planning Division of OMF summarizing the recommendations and consequent budget adjustments to be made during the FY 2004-05 Spring Budget Adjustment Process.
2. The memorandum identified programs, projects, or activities that required appropriation adjustment or transfer of appropriation within bureau budgets. Also included were specific actions necessary to adjust various funds in order to maintain the accuracy of the FY 2004-05 Budget.
3. Exhibit 1, prepared by the Financial Planning Division of OMF, identifies the details of appropriation adjustments or transfers recommended and identified in the memorandum mentioned above. This exhibit also includes budget adjustments that must be made in the form of a Minor Supplemental Budget in accordance with Local Budget Law, Oregon Revised Statutes 294.480.
4. Exhibit 2 includes all changes to the City appropriation schedule as a result of the Spring Budget Adjustment Process and the Minor Supplemental Budget.
NOW THEREFORE, the Council directs:
a. The FY 2004-05 Budget is hereby amended and the FY 2004-05 Spring Minor Supplemental Budget is adopted by adjusting certain resources and requirements in various funds as detailed in Exhibit 1.
b. The actions amending the FY 2004-05 budget contained in this ordinance are binding City policy.
Ordinance No. 179376, passed and effective June 23, 2005.