Resolution No. 03-42 CITY OF TIGARD, OREGON
RESOLUTION NO. 03- 4,-
A RESOLUTION APPROVING BUDGET AMENDMENT #S TO THE FY 2003-04 ADOPTED
BUDGET TO INCREASE APPROPRIATIONS FOR FUNDING OF THE ANNUAL MEMBERSHIP
DUES TO THE REGIONAL ECONOMIC DEVELOPMENT PARTNERS
WHEREAS, the Tigard City Council had expressed interest in the City exploring the creation of an
economic development program, and
WHEREAS,the Regional Economic Development Partners was formed more than 10 years ago to promote
economic development in this area,and
WHEREAS, the Regional Partners have already developed a six-month work plan as a catalyst for a
regional action plan for creating a region that is able to respond to changing economic factors, and
WHEREAS, the City of Tigard now has the opportunity to join this partnership so that the City can
participate in the program and formulate Tigard's plan for being engaged in regional economic
development,and
WHEREAS, the Tigard City Council approved the City's participation in the Regional Partners program at
their business meeting on August 26,2003.
NOW,THEREFORE,BE IT RESOLVED by the Tigard City Council that:
SECTION 1: The FY 2003-04 Adopted Budget of the City of Tigard is hereby amended as shown in
Attachment A to this resolution.
SECTION 2: This resolution is effective immediately upon passage.
PASSED: This day oJ,L,2003.
JAA
ayor-tity f and
ATTEST:
i y Recorder- City of Ti and
RESOLUTION NO. 03 - "7
Page I
Attachment A
FY 2003-04
Budget Amendment # 5
FY 2003-04 Budget Revised
Revised Amendment Revised
Budget #5 Budget
General Fund
Resources
Beginning Fund Balance 7,065,185 7,065,185
Property Taxes 9,115,977 9,115,977
Grants 39,700 39,700
Interagency Revenues 2,162,454 2,162,454
Development Fees&Charges 290,000 290,000
Utiltity Fees and Charges 0 0
Miscellaneous Fees and Charges 163,000 163,000
Fines and Forfeitures 434,127 434,127
Franchise Fees and Business Tax 2,748,865 2,748,865
Interest Earnings 156,304 156,304
Bond/Note Proceeds 0 0
Other Revenues 36,032 36,032
Transfers In from Other Funds 2,227,982 2,227,982
Total $24,439,626 $0 $24,439,626
Requirements
Community Service Program 9,477,181 9,477,181
Public Works Program 2,470,000 2,470,000
Development Services Program 2,362,828 5,000 2,367,828
Policy&Administration Program 310,775 310,775
General Government 0 0
Program Expenditures Total $14,620,784 $5,000 $14,625,784
Debt Service $0 $0
Capital Improvements $0 $0
Transfers to Other Funds $3,931,116 $3,931,116
Contingency $985,213 ($5,000) $980,213
Total Requirements $19,537,113 $0 $19,537,113
Ending Fund Balance 4,902,513 4,902,513
Grand Total $24,439,626 $0 $24,439,626