Resolution No. 06-53 CITY OF TIGARD, OREGON
TIGARD CITY COUNCIL
RESOLUTION NO. 06-J3
A RESOLUTION APPROVING BUDGET AMENDMENT #4 TO THE FY 2006-07 BUDGET
TO INCREASE APPROPRIATIONS IN THE GAS TAX CAPITAL PROJECT BUDGET
WITHIN THE COMMUNITY INVESTMENT PROGRAM FOR ADDITIONAL FUNDING
FOR THE HALL BOULEVARD SIDEWALK PROJECT.
WHEREAS, the Hall Boulevard Sidewalk total project cost was estimated to be $286,725; and
WHEREAS, a Community Development Block Grant will fund$136,725 of the total cost; and
WHEREAS, the Community Development Block Grant revenue was included in the FY 2006-07
budget; and
WHEREAS, during the budget process, only $150,000, which was the portion of the project to be
funded by Gas Tax revenues,was appropriated in the FY 206-07 Budget; and
WHEREAS, the project was bid and staff recommended that the bids be rejected at the August 8,
2006 City Council meeting; and
WHEREAS, the project will be re-bid in early 2007 and it is likely that construction costs will increase;
and
WHEREAS, staff is requesting that appropriations be increased to fund the total estimated project
cost of$300,000; and
WHEREAS, it is now necessary to amend the FY 2006-07 Budget to increase appropriations in the
Gas Tax Capital Projects budget so adequate funding is available when the project is re-bid.
NOW,THEREFORE,BE IT RESOLVED by the Tigard City Council that:
SECTION 1: The FY 2006-07 Budget is hereby amended as shown in Attachment A to this
resolution to transfer$150,000 from the Gas Tax Fund Contingency to the Gas Tax
Capital Projects budget for additional funding for the Hall Boulevard Sidewalk
Project.
SECTION 2: This resolution is effective immediately upon passage.
RESOLUTION NO. 06 -,6-3
Page 1
PASSED: This �S — day of–/4c2006.
C
Mayor City of Tigard
ATTEST:
City Recorder- City of Tigard
RESOLUTION NO. 06 - �
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Attachment A
FY 2006-07
Budget Amendment # 4
FY 2006-07 Budget Adopted
Adopted Amendment Revised
Budget #4 Budget
Gas Tax Fund
Resources
Beginning Fund Balance $2,527,366 $2,527,366
Grants 228,025 228,025
Interagency Revenues 2,393,000 2,393,000
Development Fees &Charges 18,000 18,000
Interest Earnings 35,000 35,000
Other Revenues 127,642 127,642
Transfers In from Other Funds 0 0
Total $5,329,033 $0 $5,329,033
Requirements
Community Development Program 460,000 460,000
Program Expenditures Total $460,000 $0 $460,000
Debt Service $0 $0
Capital Projects $2,885,000 $150,000 $3,035,000
Transfers to Other Funds $1,582,352 $1,582,352
Contingency $400,000 ($150,000) $250,000
Total Budget $5,327,352 $0 $5,327,352
Ending Fund Balance 1,681 1,681
Total Requirements $5,329,033 $0 $5,329,033