URA Resolution 2019-03 - Supplemental Budget WOODBURN URBAN RENEWAL AGENCY RESOLUTION NO. 2019-03
A RESOLUTION APPROVING TRANSFERS OF FY 2019-2020 APPROPRIATIONS AND
APPROVING A SUPPLEMENTAL BUDGET FOR THE CREATION OF A PERS SIDE
ACCOUNT
WHEREAS, ORS 294.463(1) permits "transfers of appropriations" within any
fund "when authorized by official resolution or ordinance of the governing body";
and
WHEREAS, ORS 294.463(2) limits "transfers of general operating contingency
appropriations to no more than fifteen (15) percent of the total appropriations of
the fund" unless adopted pursuant to a supplemental budget; and
WHEREAS, transfers made pursuant to any of the above must state the need
for the transfer, the purpose for the authorized expenditure, and the amount of
the appropriation transferred; and
WHEREAS, ORS 294.471 (1 )(a) permits supplemental budgets when "an
occurrence of condition which had not been ascertained at the time of the
preparation of a budget for the current year or current budget period which
requires a change in financial planning"; and
WHEREAS, ORS 294.473 requires the governing body to hold a public
hearing on the supplemental budget when the estimated expenditures
contained in the supplemental budget for fiscal year or budget period differ by
ten (10) percent or more of any one of the individual funds contained in the
regular budget for that fiscal year; and
WHEREAS, no public hearing was required for this supplemental budget
because the estimated expenditures contained in it are less than the threshold
amount specified by ORS 294.473(1 )(a); and
WHEREAS, the transfers contained herein are made pursuant to ORS
294.463; NOW, THEREFORE,
THE CITY OF WOODBURN URBAN RENEWAL BOARD RESOLVES AS FOLLOWS:
Section 1 . That pursuant to the applicable ORS provisions cited above, the City of
Woodburn Urban Renewal Board hereby approves the applicable transfer and
supplemental budget for FY 2019-20 in the amounts listed below.
Page 1 of 2—RESOLUTION NO.2019-03
Urban Renewal Fund (720) Original Supplemental Revised
Revenues
Fund Balance $ 3,159,000 $ - $ 3,159,000
Taxes $ 785,800 $ - $ 785,800
Intergovernmental $ 1,000,000 $ - $ 1,000,000
Miscellaneous Revenue $ 39,200 $ - $ 39,200
Revenues Total $ 4,984,000 $ - $ 4,984,000
Expenditures
Personnel Services $ 228,580 $ - $ 228,580
Materials &Services $ 271,120 $ - $ 271,120
Capital Outlay $ 3,713,500 $ - $ 3,713,500
Debt Service $ 268,500 $ - $ 268,500
Transfers $ 2,290 $ 10,000 $ 12,290
Contingency $ 500,010 $ (10,000) $ 490,010
Expenditures Total $ 4,984,000 $ - $ 4,984,000
Approved as to Form:
City Attorney Date
APPROVED:
Eric Swenson, Chairman, URA Board
Passed by URA Board 1,21 Z(r
Submitted to the Chairman � / z
Approved by the Chairman is
Filed in the Office of the Recorder Nfaye,� 15
ATTEST: 4-;ke�
Heather Pierson, City Recorder
City of Woodburn, Oregon
Page 2 of 2—RESOLUTION NO.2019-03