Resolution No. 08-41 CITY OF TIGARD, OREGON
TIGARD CITY COUNCIL
SOLUTION NO. 0841
A RESOLUTION APPROVING BUDGET AMENDMENT #2 TO THE F'r' 2008-09 BUDGET TO
TRANSFER $109,841 FROM GENERAL FUND CONTINGENCY TO GENERAL FUN
INTERFUNDTRANSFERS FOR THE FIRST YEAR PAYMENT FOR THE CLUTE PROPERTY
PURCHASE E LOAN REPAYMENT TO THE WATER CIP FUND.
WHETS, in June 2007, City Council approved Resolution 07-32 authodzing the transfer the Clute property
f oin a water asset to a park asset;and
WHEREAS,Tlae parcel was valued at$670,000 at the time and was to be paid for over a five-year period using
proceeds from the General Fund and. the Parks SDC Fund Nvith payments made to the Water CII' Fund;and.
WHEREAS, due to a misunderstanding of the payment schedule a payment was not made in FY 2007-08 nor
was it budgeted in 12008-09;and
WHEREAS, due to die lack of a payment in FY 2007.08, the payment schedule will be adjusted to a four-year
period with the first payment made in FY 2008-09 from the General Fund with the Park SDC Fund first
payment due in FY 2009-10.
NOW,THEREFORE,BE IT RESOLVED by the Tigard City Council that:
SECTION 1 The FY 2008-09 Budget is hereby amended as shown in Attachment A to this resolution to
transfer $109,841 ftom the General Fund Contingency to Interfund Transfers to the Water:`
GIT' Fund in association with rhe first year payment for the Clute Property Loan Repayment.
SECTION 2 This resolution is effective immediately upon passage.
PASSED: This day of 2008.
t
Mayor= ity of Tigard
ATTEST:
City Recorder-City of Tigard
RE'SOLUTION NO. 08 -
Page 1
Resolution No. 08-4 1
Attachment A
Fiscal Year 2008-09 Budget
Amendment#2
Revised Revised
Budget Amendment Budget
General Fund
Resources
Beginning Fund Balance $ 10,308,127 $ 10,308,127
Property'raxes $ 11,626,766 $ 11,626,766
Grants $ 293,286 $ 293,286
Interagency Revenues $ 4,828,686 $ 4,828,686
Fees& Charges $ 1,773,190 $ 1,773,190
Fines and Forfeitures $ 938,030 $ 938,030
Franchise Fees $ 4,286,183 $ 4,286,183
Interest and Rental Earnings $ 306,150 $ 306,150
Bond/Note Proceeds $ - $ -
Other Revenues $ 34,000 $ 34,000
Indirect Charges $ 832,119 $ 832,119
Transfers In from Other Funds $ 1,251,669 $ 1,251,669
Total Resources $ 36,478,206 $ $ 36,478,206
Requirements
Policy-,and Legislation $ 257,536 $ 257,536
City Administration $ 388,063 $ 388,063
Community Development $ 4,366,631 $ 4,366,631
Community Set-vices $ 15,774,124 15,774,124
Public Works $ 3,749,717 3,749,717
General Government $ -
Program Expenditures Total $ 24,536,071 $ $ 24,536,071
Indirect Expenses $ 4,979,639 $ 4,979,639
Loans $ 380,000 $ 380,000
Capital Projects $ 910,845 $ 910,845
Transfers to Other Funds $ 975,000 $ 109,841 $ 1,084,841
Contingency $ 925,000 $ (109,841) $ 815,159
Total Budget $ 32,706,555 $ $ 32,706,555
Ending Fund Balance $ 3,771,651 $ $ 3,771,651
Total Requirements $ 36,478,206 $ $ 36,478,206
Resolution No, 08-
Attachment A
Fiscal Year 2008-09 Budget
Amendment #2 (cont.)
Revised Revised
Budget Amendment Budget-
Water CIP Fund
Resources
Beginning Fund Balance $ 2,511,910 $ - $ 2,511,910
Fees & Charges $ 250,000 $ - $ 250,000
Interest and Rental Earnings $ 220,000 $ - $ 220,000
Other Revenues $ 18,000,000 $ - $ 18,000,000
Transfers In from Other Funds $ - $ 109,841 $ 109,841
Total.Resources $ 20,981,910 $ - 21,091,751
Requirements'
Capital Projects $ 10,541,579 $ - $ 10,541.,579
Contingency $ 1,581,150 $ - $ 1,581,150
Total Budget $ 12,122,729 $ - $ 12,122,729
Ending Fund.Balance $ 8,859,181 $ 109,841 $ 8,969,022
Total Requirements $ 20,981,910 $ 109,841 $ 21,091,751