Resolution No. 77-69 r CITY OF TIGARD, OREGON
RESOLUTION No. 77-69
A RESOLUTION DECLARING THE INTENTION OF THE CITY COUNCIL WITH REGARD
TO BUDGETING AND EXPENDITURE OF UNENCUMBERED REVENUES AND CASH CARRY
OVERS IN EXCESS OF AMOUNTS ANTICIPATED IN PREPARATION OF A TAX LEVY
PROPOSAL.
WHEREAS, it is the intention of the City Council to levy no more in
property taxes than is necessary for the adoption of a res-
ponsible budget, the following policy relating to excess re-
venues is hereby reaffirmed.
Section 1: Excess revenues are defined as those revenues and beginning
fund balance available in the General Fund which are in
excess of the amount identified at the time of the approval of the
budget by the Budget Committee or submission of a levy to the voters,
which ever is later, as excess revenues and cash carry overs an-
ticipated to be on hand at the end of the fiscal year. Excess revenues
will be utilized in the following manner:
Subsection A: Any excess identified prior to certification
of the tax levy to the County Assessor will be used to
reduce the amount to be certified, but in no case shall
the reduction be below the 6% statutory limitation.
Subsection B: Any excess identified after a tax .levy has
been certified will be set aside for the purpose of
reducing taxes in the next following fiscal year.
Section 2: This policy shall not restrain the Council from adopting
supplemental budgets as resources and needs are identified
in accordance with state budget law.
PASSED: Thisqday of 1977.
Mayor - City of Tigard
ATTEST:
Recorder - City of
�gard
T7
RESOLUTION No. 77-__62_